US oil, gas applications could drop 40 percent

BILLINGS, Mont. (AP) — U.S. officials announced plans Thursday to speed up the permitting process for oil and gas drilling on federal lands to reduce delays, as applications were projected to be down 40 percent in coming years versus their historical average amid an ongoing price slump.
Low energy prices already have curtailed domestic energy exploration, driving down revenue. That’s put a crimp in budgets for major energy producing states, including Wyoming, Alaska, North Dakota and