Oil

The US currently gets 15% of its oil from public lands. The federal estate contains 2.46 billion acres and the private lands compose 1.5 billion acres. Oil production on federal lands could make a significant contribution to the supply if laws would allow companies to make a profit. However the Build Back Better Bill does just the opposite. This bill was passed under the name of the Inflation Reduction Bill. It contains a long list of increases in federal royalties and fees, plus new fees, new taxes and barriers to leasing. This will put pricing more under control of OPEC. The world will end up using more dirty oil from Saudi Arabia and Venezuela in place of clear oil from the US. This of course means the profits will to these other countries.