Good article in the WSJ today that outlines leases for Oil and gas drilling offshore and on federal lands. In the first 19 months of Biden's term they are the lowest since Harry Truman in 1945-46 ( just as offshore drilling was beginning ).
Biden's Interior department leased 126,000 acres in the first 19 months in office - Trump leased 4.4 million, Obama 7.25 million, Bush 12.74 million - even Carter leased 11.77 million. Reagan wins this contest with 47.5 million leased in the first 19 months - wow.
As Biden has called for more oil production, his actions speak louder than words.. Leasing is down 97% from the first 19 months of Donald Trump's term.
The Mineral Leasing act of 1920 requires onshore oil and gas leasing auctions at least quarterly, in the 6 quarters Biden has been in office it has conducted auctions in just one... in late June of this year ( 5 auctions held June 29-30th). There have been no sales for offshore drilling so far under Biden.
Federal leases account for more than 25% of all US Oil Production.
The Interior department has awarded 203 leases for Oil and gas development during Biden's term so far, Both Trump and Obama each approved 10x as many leases during the same period.
Anyway... check out the article in the WSJ if you can, if not I have tried to provide some of the good facts they provided here as a summary.
Biden's Interior department leased 126,000 acres in the first 19 months in office - Trump leased 4.4 million, Obama 7.25 million, Bush 12.74 million - even Carter leased 11.77 million. Reagan wins this contest with 47.5 million leased in the first 19 months - wow.
As Biden has called for more oil production, his actions speak louder than words.. Leasing is down 97% from the first 19 months of Donald Trump's term.
The Mineral Leasing act of 1920 requires onshore oil and gas leasing auctions at least quarterly, in the 6 quarters Biden has been in office it has conducted auctions in just one... in late June of this year ( 5 auctions held June 29-30th). There have been no sales for offshore drilling so far under Biden.
Federal leases account for more than 25% of all US Oil Production.
The Interior department has awarded 203 leases for Oil and gas development during Biden's term so far, Both Trump and Obama each approved 10x as many leases during the same period.
Anyway... check out the article in the WSJ if you can, if not I have tried to provide some of the good facts they provided here as a summary.