In advance of next week’s midterm elections, President Biden urged Congress to penalize oil and gas companies that don’t use earnings to lower consumer energy bills.
Tag: gas prices
How Biden’s Policy Will Make Oil Expensive for Decades to Come
As soon as Mr. Biden took office, he ordered an indefinite freeze on new leases, and the Interior Department demanded extra evaluations of drilling licenses for the following sixty days. Since then, the administration has only attempted one offshore sale, which a judge ruled unlawful in January. It restarted onshore leasing this summer after a federal court in Louisiana ruled in June 2021 that the president’s suspension was illegal.
