Oil and gas lease sales Alaska

Critics say the U.S. government's move to block more drilling shows a "lack of commitment" to energy independence.

The problem is that crude oil production declined in 2020 and 2021 due to the pandemic. Economic security for Alaska and the country is supported through a transition to renewable resources and that transition must start not locking in new areas for 40-plus years of carbon-based fuels." U.S. oil production is projected to hit a record 12.8 barrels of oil per day in 2023, it said earlier this month. "Over the medium and long term, that has a terribly detrimental effect on price volatility." "Alaska is feeling those impacts faster than most of the country. Overall production, assuming a price of $100 per barrel, would be more than 5 billion barrels of oil across multiple lease sales, including several areas beyond the two lease sales that were canceled. According to a 2016 assessment of the proposed lease sales, Cook Inlet would have likely produced more than 200 million barrels of oil. Here's what to know about the canceled lease sales and their impact on gas prices. But even if the three lease sales had proceeded, it would have taken years for production to hit the market, experts say. Republican lawmakers are pointing to surging fuel costs as a rationale for selling more leases to drill on federal lands, with some criticizing President Biden's decision as hurting America's energy independence. But oil and gas production would have the potential to hurt local tourism and fisheries, said Elisabeth Mering, advocacy director at Cook Inletkeeper, a nonprofit that is dedicated to preserving the region. The canceled Gulf of Mexico lease sales are part of a wider geographic lease sale, and the assessment includes the broader impact of development in the region.

The Biden administration is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, removing millions of acres ...

Decisions by the OPEC+ oil cartel, led by Saudi Arabia and Russia, to only modestly increase supplies to the world market have also kept prices high. Biden said the administration needed to consider the effect of new drilling on climate change and conduct proper environmental reviews. The Interior Department’s decision “approaches levels of irresponsibility and reckless stupidity never seen before,” said U.S. Rep. Garret Graves, R-La. “We are paying record prices for gasoline and to heat and cool our homes. The administration has appealed Doughty’s ruling, but has scheduled onshore lease sales next month in eight mostly Western states. Consumer prices jumped 8.3% last month from a year ago, the government said Wednesday. Democrats accuse the industry of “price gouging” and have vowed to bring legislation cracking down on price manipulation to votes in the House and Senate. A bid to impose a “windfall profits” tax on oil producers has generated little support in Congress. Major oil companies reported surging profits in the first quarter and are sending tens of billions of dollars in dividends to shareholders, along with stock buybacks that have sharply increased the value of investor holdings. Biden has come under pressure to increase U.S. crude production as fuel prices spike because of the coronavirus pandemic and the war in Ukraine. The United States and other nations have banned imports of Russian oil, driving up prices worldwide. WASHINGTON – The Biden administration is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, removing millions of acres from possible drilling as U.S. gas prices reach record highs. The lease cancellations come as gas prices have surged to a record $4.40 a gallon amid the war in Ukraine and other disruptions that have pushed prices $1.40 a gallon higher than a year ago. The Interior Department announced the decision Wednesday night, citing a lack of industry interest in drilling off the Alaska coast and “conflicting court rulings” that have complicated drilling efforts in the Gulf of Mexico, where the bulk of U.S. offshore drilling takes place. “Unfortunately, this is becoming a pattern – the administration talks about the need for more supply and acts to restrict it,” said Frank Macchiarola, senior vice president of the American Petroleum Institute, the top lobbying group for the oil and gas industry.

The leases would have opened up more than a million acres for development in vibrant oceans ecosystems that are vital to threatened and endangered species, ...

We expect the Department of Interior to release its five-year plan for offshore oil and gas development in the next month. It is time to stop treating the Gulf of Mexico as a sacrifice zone for the country’s dirty and dangerous oil and gas addiction, and to accelerate the shift to clean energy. The Gulf is still recovering from the catastrophic BP oil spill, and continued exploitation of offshore oil perpetuates the risk of another crisis. After decades of offshore oil development, onshore refining, and chemical manufacturing, the health of communities around the Gulf region is suffering. Interior’s move away from dirty energy is a key step; next it should commit to no new offshore leasing and investing in a clean energy future. We do not need more leasing — industry is sitting on 11 million acres of ocean already leased for drilling and is using less than a quarter of it — and new leases would not yield more supply for at least a decade, which is no help to consumers at the pump this year.

The announcement to scrap three offshore oil and gas lease sales in Alaska and the Gulf of Mexico comes as gas prices nationwide reach a record high.

And it's good for the people of Cook Inlet, including native people, who cherish the inlet in its natural state. More than 1 million acres would have been covered under the Alaska lease. "I’m glad Cook Inlet belugas won’t be forced to face even more oil drilling in their only habitats, but much more must be done to protect these endangered whales from offshore drilling,” Monsell said. But the action on leases does fall in line with Biden's campaign promise to tackle climate change more aggressively. The announcement comes as gas prices nationwide reach a record high. Frank Macchairola, a top official with the American Petroleum Institute, slammed the Biden administration for canceling the Cook Inlet lease, calling it "another example of the administration's lack of commitment to oil and gas development in the U.S.," according to CBS.

The announcement comes as the Biden administration battles with oil companies and Republicans over its long-term plan to reduce oil and gas leasing on ...

Upon coming into office, Biden put offshore lease sales on hold while the Interior Department studied the environmental impact of offshore oil production. "We are paying record prices for gasoline and to heat and cool our homes. "These decisions are devastating to Americans," said Erik Milito, president of the National Offshore Industries Association, which represents offshore energy companies. "The adverse consequences of the explicit decision to suspend U.S. oil and gas development are being felt in a very hard way by everyday Americans and by our allies around the world." The decision stands to put further uncertainty on the future of offshore drilling in the Gulf of Mexico, one of the world's largest offshore oil and gas fields, which has struggled to rebound from the fall in crude prices during the Covid-19 pandemic. WASHINGTON - Offshore oil and gas lease sales in the Gulf of Mexico and Alaska have been canceled, the Department of Interior announced Wednesday night.

The Interior Department said it will not move forward with three planned oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet, ...

“Mere days after gas prices hit historic highs, President Biden is killing new offshore leases for the rest of the year. It also comes at a difficult time for the oil and gas market. On Thursday, the price of gasoline climbed to a national average of $4.41 per gallon, according to AAA — the third consecutive record-high this week. Once submitted, offshore drilling proposals typically take between six and 12 months to be finalized and approved. Another major concern from industry groups is that the administration has not yet drawn an offshore program replacement plan ahead of the June expiration date. Alaska’s Cook Inlet was home to more than 1 million acres of federal land alone.

The Interior Department's decision to not move forward with the lease sale comes as gas prices soar.

And it's good for the people of Cook Inlet, including native people, who cherish the inlet in its natural state. The new activity would have led to new underwater pipelines and platforms in the environmentally-sensitive area. "They don't want to get hit by the Republicans in light of the high gas prices," one environmental advocate told CBS News, speaking on the condition he not be named because of the sensitivity of the topic. But those promises have become a political challenge in the face of prices at the pump. Federal law requires the Department of the Interior to stick to a five-year leasing plan for auctioning offshore leases. However, canceling the sale would be in keeping with political promises President Joe Biden made in the name of halting global warming.

The Interior Department confirmed Wednesday that it will not hold three oil and gas lease sales in the Gulf of Mexico and off the coast of Alaska that had ...

A recipe for fighting climate change and feeding the world Oil and gas industry lobbyists and Republican lawmakers have tried to blame high gas prices on the president’s climate policies. Interior held one more in November, auctioning off 80 million acres in the Gulf of Mexico in the largest offshore oil and gas lease sale in the nation’s history. How to start tackling your home’s water — and climate — footprint “Big Oil is using anything they can find to try to extend the life of a dying fossil fuel industry. The undeniable link between weather disasters and climate change It typically takes the government at least six months to a year to finalize a new offshore drilling plan. Offshore drillers have sought to raise the alarm for months about the leasing program’s June 30 expiration date, saying that a lapse in the program would cost thousands of jobs and billions in lost tax revenue. Even if Interior held the three planned offshore lease sales, it typically takes years for companies to drill new wells and ramp up production. Barring unexpected action, the current five-year offshore drilling program will lapse at the end of June. Interior cannot hold any new oil and gas lease sales until it has completed a replacement plan. Interior spokeswoman Melissa Schwartz cited a lack of interest from oil companies, as well as legal obstacles and a time crunch, as reasons for nixing the planned auctions. According to Interior’s figures, more than three-quarters of the offshore federal waters already under lease remain unused — that’s about 8 million acres where companies could drill new wells but have not.

WASHINGTON (AP) — The Biden administration says it is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, ...

Biden said the administration needed to consider the effect of new drilling on climate change and conduct proper environmental reviews. Decisions by the OPEC+ oil cartel, led by Saudi Arabia and Russia, to only modestly increase supplies to the world market have also kept prices high. The Interior Department's decision “approaches levels of irresponsibility and reckless stupidity never seen before,'' said Rep. Garret Graves, R-La. “We are paying record prices for gasoline and to heat and cool our homes. The administration has appealed Doughty's ruling, but has scheduled onshore lease sales next month in eight mostly Western states. Consumer prices jumped 8.3% last month from a year ago, the government said Wednesday. Democrats accuse the industry of “price gouging” and have vowed to bring legislation cracking down on price manipulation to votes in the House and Senate. A bid to impose a “windfall profits” tax on oil producers has generated little support in Congress. (AP Photo/Sue Ogrocki, File) The Associated Press The lease cancellations come as gas prices have surged to a record $4.40 a gallon amid the war in Ukraine and other disruptions that have pushed prices $1.40 a gallon higher than a year ago. WASHINGTON (AP) — The Biden administration is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, removing millions of acres from possible drilling as U.S. gas prices reach record highs. The decision likely means the Biden administration will not hold a lease sale for offshore drilling this year and comes as Interior appears set to let a mandatory five-year plan for offshore drilling expire next month. The Biden administration says it is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska. The Interior Department announced the decision Wednesday night, citing a lack of industry interest in drilling off the Alaska coast and “conflicting court rulings” that have complicated drilling efforts in the Gulf of Mexico, where the bulk of U.S. offshore drilling takes place,

The Biden administration has canceled oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet -- dealing a blow to potential domestic fuel ...

“It’s almost like the Biden administration WANTS gas prices to go higher.” “The President has spoken about the need for additional supplies in the market, but his administration has failed to take action to match that rhetoric,” Frank Macchairola of the American Petroleum Institute told CBS News, calling the cancellations “another example of the administration’s lack of commitment to oil and gas development in the US.” Of those, the industry is not producing on more than three-quarters (75.75% of 8.26 million acres).” “Gas prices are at a record high, and Biden just canceled oil and gas leases in Alaska and the Gulf,” added Sen. Tom Cotton (R-Ark.). “Joe Biden is directly responsible for the high cost of gas.” “Yesterday, Americans paid the highest price for gasoline in history,” tweeted Sen. Marco Rubio (R-Fla.). “At the same time Biden just canceled our largest pending American oil & gas lease sale.” The Biden administration has canceled oil and gas lease sales in the Gulf of Mexico and Alaska’s Cook Inlet — dealing a blow to potential domestic fuel protection as gas prices reach new highs across the country.

Republicans link the move to rising gas prices while the administration said it was a result of conflicting legal opinions and a lack of interest among ...

That led the Biden administration to temporarily pause a number of decisions — including lease sales for drilling — as it appeals that ruling. A federal judge earlier this year ruled that the Biden administration may not consider the damages caused by climate change when issuing regulations or other policies. “And by the way, no more drilling on federal lands, period. As a candidate, he promised to stop new drilling on public lands and in federal waters. The Interior Department is not appealing that ruling. The International Energy Agency said last year that countries must stop approving new oil and gas projects to prevent the planet from dangerously overheating. The decisions come at a challenging time for the Biden administration. Republican attorneys general from 13 states successfully challenged the pause in leasing. “The administration talks about the need for more supply and acts to restrict it,” he said. The Cook Inlet lease sale would have opened more than one million acres for drilling, spanning at least 40 years of production. The leasing program presents a dilemma for Mr. Biden. He has promised progressive Democrats and environmental groups that he would propel the country away from its dependence on the fossil fuels that are driving climate change. Period, period, period,” Mr. Biden told voters in New Hampshire in February 2020.

The Interior Department will not move forward with planned oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet.

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 ...

A source familiar with the sale said Interior had received no comments from industry that indicated specific company interest for leasing Cook Inlet waters during the project's scoping period or during environmental review. And we ought to be concerned about climate," Kaine said at a Senate Foreign Relations Committee hearing Thursday. "But it strikes me if we're the largest energy producer in the world, and we know that at least transitionally, our European allies need energy from sources other than Russia, that us going to Saudi Arabia and saying, 'Please, produce more energy,' when we're not willing to do it ourselves -- I just don't get it." While recently testifying in front of Congress, Interior Secretary Deb Haaland said the plan still needed "significant" work, and she didn't give a date for when the department would release it.

The leases would have opened up more than a million acres for development in vibrant oceans ecosystems that are vital to threatened and endangered species, ...

We expect the Department of Interior to release its five-year plan for offshore oil and gas development in the next month. It is time to stop treating the Gulf of Mexico as a sacrifice zone for the country’s dirty and dangerous oil and gas addiction, and to accelerate the shift to clean energy. The Gulf is still recovering from the catastrophic BP oil spill, and continued exploitation of offshore oil perpetuates the risk of another crisis. After decades of offshore oil development, onshore refining, and chemical manufacturing, the health of communities around the Gulf region is suffering. Interior’s move away from dirty energy is a key step; next it should commit to no new offshore leasing and investing in a clean energy future. We do not need more leasing— industry is sitting on 11 million acres of ocean already leased for drilling and is using less than a quarter of it—and new leases would not yield more supply for at least a decade, which is no help to consumers at the pump this year.