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Biden Admin Has Issued The Fewest Oil And Gas Leases Since The 1940s
by Tyler Durden
Monday, Sep 12, 2022 - 10:40 AM
While President Biden stands in front of podium after podium assuring the American people he is doing everything within his power to help bring down the costs of energy in the country, the facts tell a different story.
In fact, it was reported last week that Biden's administration has "leased fewer acres of land for oil and gas drilling on federal lands and waters than any administration in the last 76 years," according to the Daily Caller and Wall Street Journal.
According to new data from the Department of the Interior, just 126,228 acres of federal land has been issued for drilling during Biden's tenure as President so far. It's the least since President Harry Truman allocated 65,658 acres of land from 1945 to 1946.
However, during that time, the government didn't yet control offshore drilling leases, the report notes.
American Petroleum Institute Vice President of Upstream Policy Cole Ramsey commented to the Daily Caller: “This is a sobering but unsurprising look at the headwinds to developing essential American energy.”
He continued: “Maintaining a strong federal leasing program is critical for advancing U.S. energy security, strengthening our economy … we urge the Biden administration to take immediate action to hold onshore lease sales and issue a final 5-year program for federal offshore leasing that includes all of the proposed lease sales.”
President Biden has consistently worked to try and pause new drilling leases since taking office - even as oil prices have skyrocketed. Instead of issuing new land for drilling, Biden has been instead depleting the nation's strategic petroleum reserve.
The DOI estimated this summer that, as a result, the U.S. would be forced to import more crude oil. The Wall Street Journal noted that no President since Nixon has leased less than 4.4 million acres of land during their first year and a half of their term. |
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