The Biden Administration has now decided to cancel the sale of a massive pending oil and gas lease in Alaska, even while the nation continues to suffer through an unprecedented energy crisis.
As The Daily Wire reports:
Despite the record high price of gas in the U.S., the Biden administration has announced it is canceling the sale of a massive oil and gas lease location in Alaska that was pending before the Department of the Interior (DOI).
Biden’s DOI also canceled two leases under consideration in the Gulf of Mexico area.
Yet on Wednesday, the DOI killed the potential to drill for oil in over 1 million acres in the Cook Inlet in Alaska, informing CBS News that the cancellation stemmed from a “lack of industry interest in leasing in the area” for the decision to “not move forward.” The DOI killed the two leases under consideration in the Gulf of Mexico area because of “conflicting court rulings that impacted work on these proposed lease sales.”
“The Biden administration is poised to let the nationwide offshore drilling program expire next month without a new plan in place,” The Washington Post noted, adding, “Barring unexpected action, the current five-year offshore drilling program will lapse at the end of June. Interior cannot hold any new oil and gas lease sales until it has completed a replacement plan.”
The news comes as gas prices have risen to new all-time highs and fears of a potential looming recession have begun to take hold.