Biden Guts America’s Oil Production

Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

(TheRedWire.com) – On Friday, the Biden administration finalized a plan to restrict offshore gas and oil lease sales in the next half a decade. This is part of their efforts to push for more green energy development.

The leasing program of the Department of the Interior (DOI) will affect the leasing sales of three Gulf of Mexico leases through 2029. Under this new plan, there will be the lowest number of sales in any plan in history.

The DOI has noted that holding the sales is going to allow future offshore wind leases that are going to be part of the Inflation Reduction Act (IRA). The IRA will allow for the two provisions to be tethered together.

On Friday, the National Ocean Industries Association President Erik Milito stated that President Biden’s approach to restrict a “critical national asset” is going to be limiting the energy production possibilities in the United States. He further argued that this plan was completely ignoring the current energy realities.

He added that as global demand continues to increase at record levels and the regressive policies are harming Americans across the country, putting further pressure on gas prices, and eliminating good-paying jobs that previously supported communities in the Gulf Coast is only going to be geopolitically advantageous to many of the U.S.’s adversaries including China, Iran, and Russia as they will be allowed to increase their energy production.

Milito pointed out that this was harmful to the U.S.’s economic prosperity and security and undermined the efforts to combat climate change and bring down emissions.

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