Biden's Offshore Plan Upsets Oil Industry and Environmentalists Alike
The Biden administration plans to reduce the frequency of future offshore oil and gas lease sales to a historic low, drawing the ire of the energy industry without satisfying the objectives of environmental groups. The Department of the Interior's five-year plan "phases down" oil and gas auctions in the U.S. Gulf of Mexico with three lease sales, one each in 2025, 2027 and 2029. It also calls for a moratorium on E&P leasing off the Atlantic, Pacific and Alaskan coastlines. ...
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