Biden sets out oil and gas leasing reform, stops short of ban

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Biden sets out oil and gas leasing reform, stops short of ban
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The long-awaited report by the Interior Department stops short of recommending an end to oil and gas leasing on public lands, as many environmental groups have urged.

, aiming to bring down gas prices amid concerns about inflation. Gasoline prices are at about $3.40 a gallon, more than 50% higher than a year ago, according to the American Automobile Association.

The leases will take years to develop, meaning oil companies could keep producing crude long past 2030, when Biden has set a goal to lower greenhouse gas emissions by at least 50%, compared with 2005 levels. Scientists say the world needs to be well on the way to that goal over the next decade to avoid catastrophic climate change.

Emissions from burning and extracting fossil fuels from public lands and waters account for about a quarter of U.S. carbon dioxide emissions, according to the U.S. Geological Survey. The report “presumes more fossil fuel leasing that our climate can’t afford” and abandons Biden’s campaign promise to stop new oil and gas leasing on public lands, McKinnon said.

Jennifer Rokala, executive director of the left-leaning Center for Western Priorities, said the report “provides a critical roadmap to ensure drilling decisions on public lands take into account impacts on our land, water and wildlife, while ensuring a fair return for taxpayers.”

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