Apr 14, 2025 (MarketLine via COMTEX) --
This decision by the Interior Department aims to reduce regulatory barriers and expedite domestic energy development.
In a move aligned with President Donald Trump's agenda, the US will no longer require environmental impact statements (EISs) for approximately 3,244 oil and gas leases across the western states.
The leases are located in Colorado, Montana, New Mexico, North Dakota, South Dakota, Utah and Wyoming.
The rescission of the notice of intent by the Bureau of Land Management (BLM) supports the policy direction of Executive Order 14154 and Secretary's Order 3418, both titled Unleashing American Energy.
Former President Joe Biden's BLM had announced on 16 January that it would prepare the analysis following lawsuits challenging the leases, according to a report by Reuters.
A court had remanded the matter to BLM for further environmental analysis. Such EISs are mandated by the 1970 US National Environmental Policy Act (NEPA).
President Donald Trump has long opposed NEPA's requirements.
On 20 January, his first day back in office, he signed an executive order to speed up energy permitting by proposing the elimination of NEPA requirements, including the consideration of greenhouse gas emissions for major projects.
The Interior Department stated that the BLM is evaluating options for NEPA compliance regarding oil and gas leasing decisions.
Additionally, the US Energy Information Administration (EIA) anticipates a decline in global oil demand growth through 2026, influenced by recent trade policy developments and changes in oil production.
The EIA's April Short-Term Energy Outlook (STEO) highlights significant uncertainties around energy supply, demand and prices.
The STEO notes that early April developments have notably impacted global oil markets.
On 2 April, President Trump signed an executive order imposing a minimum 10% tariff on imports from all countries, with higher tariffs on some.
In response, China imposed 34% tariffs on US imports on 4 April.
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COMTEX_464541371/2227/2025-04-14T09:35:48
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