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Biden Kills Big Oil

Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

Biden is making a huge mistake.

The most high-profile oil and gas lease sale has now been canceled by the Biden administration after previously being pending before the Department of Interior. The deal cancellation comes at a time when the gas prices are reaching record highs according to AAA.

The DOI stopped the drilling for oil on over 1 million acres in Alaska’s Cook Inlet. Two lease sales in the Gulf of Mexico were also canceled. The Biden administration has generally been hostile to the oil industry, and very few moves have been made to deal with the high gas prices. 

“Due to lack of industry interest in leasing in the area, the Department will not move forward with the proposed Cook Inlet OCS oil and gas lease sale 258,” a DOI spokesperson said on Thursday. 

“The Department also will not move forward with lease sales 259 and 261 in the Gulf of Mexico region, as a result of delays due to factors including conflicting court rulings that impacted work on these proposed lease sales,” they continued. 

In their statement to FOX Business they also added that “there are 10.9 million acres of offshore federal waters already under lease to industry,” and “of those, the industry is not producing on more than three-quarters (75.7% or 8.26 million acres).”

According to Federal law, the DOI needs to use a five-year leasing plan when auctioning offshore leases.  The current five-year plan is due to expire on June 30, and they will have until then to complete any sales. 

Steve Milloy, a former Trump-Pence EPA transition member and founder of JunkScience.com, said “In Alaska, the problem was that the greens scared off virtually everyone.” He added, “It’s expensive to explore and drill, and the greens made it pretty clear, they were going to make it even more difficult.”

Written by freedomnews

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