
Interior Department cancels offshore oil and gas leases in Alaska and the Gulf of Mexico
CNN
The Biden administration announced Wednesday it would cancel three upcoming offshore oil and gas leases -- two in the Gulf of Mexico and one in Alaska -- over a lack of interest and delays.
The cancellation of the previously planned Cook Inlet sale in Alaska, as well as the lease sales in the Gulf, ensures that millions of acres of offshore waters will not be developed for oil and gas -- a significant victory for climate advocates.
However, Biden officials have also emphasized the need for more domestic oil production to combat high gasoline prices, which have angered the public and inflamed inflation.
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