How should the BLM reflect social costs when leasing federal lands for oil and gas development?

In April the U.S. Department of the Interior issued an advanced notice of proposed rulemaking (ANPR) seeking comments on a handful of economic issues surrounding the leasing of federal lands for oil and gas development. Most of the questions raised in the ANPR concern aspects of the “government take” – the royalty rates, minimum bids, … More How should the BLM reflect social costs when leasing federal lands for oil and gas development?