Regulatory Impact on Energy Development - Regulation, including environmental and species acts, and NEPA, significantly increases the cost of energy development on federal lands, discouraging capital investment [1] - Morgan Stanley studies indicate private leases can be four times more expensive, costing $32,000 per acre, compared to $8,000 on federal lands, reflecting the cost of regulation [1] - The Biden administration's regulatory policies effectively drove capital away from developing federal resources [1] Potential Benefits of Deregulation - Cutting regulation could lower the break-even point for oil and gas companies, allowing them to profit at lower prices per barrel [2] - Deregulation could potentially cut at least 10% of the price of a barrel on federal land, which is currently attributed to regulatory overhead costs [2]