Biden admin cancels massive oil and gas lease sale amid record-high gas prices
The Biden administration canceled one of the most high-profile oil and gas lease sales pending before the Department of the Interior Wednesday, as Americans face record-high prices at the pump, according to AAA.
www.foxbusiness.com
"A DOI spokesperson cited a "lack of industry interest in leasing in the area" for the decision "not to move forward" with the Cook Inlet lease sale, CBS News reported. The spokesperson also said the department canceled the Gulf of Mexico leases – lease 259 and lease 261 – due to "conflicting court rulings that impacted work on these proposed lease sales."
Within his first week in office, President Biden signed an executive order temporarily suspending new oil and gas leases on federal lands. The administration resumed the new leasing last month following court challenges against the ban. The administration is appealing a ruling..."
"In Alaska, the problem was that the greens scared off virtually everyone," Milloy said. "It's expensive to explore and drill, and the greens made it pretty clear, they were going to make it even more difficult."
"I blame Biden for all lack of production. He has scared away investment," Milloy told FOX Business. "I don't trust him in court defending leasing," he added, suggesting that the president will find "any excuse to not drill. They even tried to use the social cost of carbon decision to stop leasing."
"Unfortunately, this is becoming a pattern - the administration talks about the need for more supply and acts to restrict it," Frank Macchiarola, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute..."
