(TheRedAlertNews.com) – Happening Now: In a move sure to anger the oil and gas industry and many consumers while pleasing the environmental wing of the Democrat Party, President Joe Biden has canceled more offshore oil drilling lease sales at a time when Americans are paying record-high prices for gasoline.
As Newsmax recounts in “Biden Admin Canceling 3 Major Offshore Oil Lease Sales“:
“The Biden administration Wednesday said it was canceling three major offshore oil lease sales in the Gulf of Mexico and Alaska’s Cook Inlet, The Hill reports.
“A spokesperson for the Interior Department said the roughly 1 million-acre sale in the Cook Inlet would not move forward due to insufficient industry interest.
“‘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,’ the statement added.” [emphasis added]
One industry critic of Biden’s, Frank Macchairola, a top official with the American Petroleum Institute, said the canceled sales are “another example of the administration’s lack of commitment to oil and gas development in the U.S. The president has spoken about the need for additional supplies in the market, but his administration has failed to take action to match that rhetoric.”
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The Biden administration Wednesday said it was canceling three major offshore oil lease sales in the Gulf of Mexico and Alaska's Cook Inlet, The Hill reports.
— Newsmax (@newsmax) May 12, 2022