Biden Halts Oil and Gas Leases

Biden Halts Oil and Gas Leases

( – On February 11, a US federal judge blocked the Biden administration from increasing the climate cost estimate used to gauge carbon emission pollution. The court’s decision prevented the administration from using a high estimate to consider damages that greenhouse emissions cause to society.

Former President Donald Trump reduced it to $7 or less per ton. Joe Biden attempted to increase it to $51 per ton to reflect his view of rising sea levels, increased droughts and other consequences resulting from climate change. In part, the government uses the cost estimate to determine the rules for oil and gas drilling on public lands.

As a result of the judge’s ruling, the Biden administration says it will cause an immediate delay in selling oil and gas leases on public lands in a half-dozen states. On Thursday, February 24, Biden said he would do everything possible to limit pain at the pump as conflicts between Russia and Ukraine send oil markets reeling. Still, it appears Biden’s environmental policies override the pain Americans are feeling in their wallets as gas, home heating oil and electricity prices skyrocket.

When Biden entered office a year ago, the US was energy independent for the first time in half a century under Trump. Biden seemingly declared war on US energy companies, and supply has dropped dramatically as the United States once again became energy dependent on OPEC and other foreign sources of oil. Does Biden’s decision to halt oil and gas leases on federal lands makes any sense in light of the current situation?

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