Economy

PAIN IN THE GAS: As Gas Prices Soar, Biden Admin Cancels Oil and Gas Leases in Alaska, Mexico

posted by Hannity Staff - 5.12.22

While many Americans are paying the highest price for gas in the history of the U.S., the Biden Administration thought it would be a good idea to cancel massive oil and gas lease sales in Alaska and Mexico.

From Fox News…

The DOI halted the potential to drill for oil in over 1 million acres in Alaska’s Cook Inlet, along with two lease sales in the Gulf of Mexico. The move comes as Biden has taken a few actions to combat high gas prices, despite his administration’s generally hostile approach to the oil industry.

“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 told FOX Business in a statement 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,” the spokesperson added.

“Unfortunately, this is becoming a pattern – the administration talks about the need for more supply and acts to restrict it,” Frank Macchiarola, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute, told FOX Business in a statement Thursday. “As geopolitical volatility and global energy prices continue to rise, we again urge the administration to end the uncertainty and immediately act on a new five-year program for federal offshore leasing.”

Prominent GOP voices blasted the Biden Administration for the decision:

“Yesterday Americans paid the highest price for gasoline in history. At the same time Biden just cancelled our largest pending American oil & gas lease sale,” Senator Marco Rubio (R-FL) tweeted.

“Because, you know, stopping inflation is his number one priority…as Biden said YESTERDAY,” Senator Ted Cruz (R-TX) said.

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