Biden considering offshore drilling ban as energy prices explode for consumers

The Biden administration is mulling the prospect of banning new American offshore oil and natural gas drilling projects as fuel prices continue to spike, The New York Times reported Thursday.

The Interior Department’s Bureau of Ocean Energy Management, working closely with the White House to shape policy, will release its drafted five-year plan for new oil and gas drilling leases in federal waters to Congress by June 30, according to The New York Times, citing people familiar with the matter. The administration is likely to stop new offshore drilling projects in the Atlantic and the Pacific, and is considering whether to end leasing in the Arctic and Gulf of Mexico.

Gas prices have soared over the past several months, causing the president to be heavily criticized for his energy policy. In response to this crisis, Biden recently called for Congress to suspend the federal gas tax for 3 months and urged oil companies to increase their production of fuel.

The decision to potentially limit offshore drilling comes at a time in which climate activists continue to pressure the Biden Administration into embracing more environmentally friendly energy solutions. – READ MORE