President Biden’s top advisers believed they had reached a secret agreement to increase oil production through the end of the year during his politically risky trip to Saudi Arabia this summer. Despite…
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.