[Hoot Gibson]

The Biden administration increases the royalty rate for oil production on federal land from 12.5 percent to 16.67 percent. They also increased the minimum bond amount from $10,000 to $150,000.

I'm not familiar enough with how bonds are set to know whether increasing the minimum is significant or not, but that is a huge and unwarranted increase in the royalty rate.

Leasing and permitting are the other areas in which liberals determined to destroy industries utilize. It takes time for companies to lease, explore, drill, and place oil and gas wells into production. The full impact of the changes that Biden made have not been seen yet. 

Trump will roll back many of the changes that Biden has made. Hopefully, the coal industry, or what's left of it, will also get some much needed relief.