Biden admin cancels massive oil and gas lease sale amid record-high gas prices
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Summary
FAQ - New Privacy Policy'Kennedy' party panel reacts to President Biden's 'economic blunders' as inflation hit 8.3% in April.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.The DOI halted the potential to drill for oil in over 1 million acres in Alaska's Cook Inlet, along with two lease sales in the Gulf of Mexico. The move comes as Biden has taken a few actions to combat high gas prices, despite his administration's generally hostile approach to the oil industry.GAS PRICES HIT NEW ALL-TIME HIGH AS EU CONSIDERS BLOCKING RUSSIAN OIL, BIDEN KEEPS RESTRICTIONSA 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 administration is not appealing the ruling, though it affects a separate lease from the ones the DOI spokesperson mentioned Wednesday.BIDEN ENDING MORATORIUM ON FEDERAL DRILLING LEASES WON'T HELP GAS PRICES FOR ‘OVER A YEAR’: OIL EXPERTSteve Milloy, a former Trump-Pence EPA transition member and founder of JunkScience.com, traced these lease cancelations back to President Biden in remarks to FOX Business Wednesday.Alaska, Arctic National Wildlife Refuge, ANWR, the Narrows from Schrader to Peters Lake.
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