Our daily brief brings you need-to-know news and insights you won’t find in the mainstream media. 100% free.
Background: Biden’s Interior Department confirmed that it would be canceling three oil and gas lease sales. The department said that it’s due to a “lack of industry interest in leasing in the area.” The other side blames environmentalists and regulations for creating conditions unfavorable for leasing.
Conflicting goals: Gas is still at all-time highs. Biden has expressed his willingness to increase production to lower prices but has also committed to transitioning away from fossil fuels for climate reasons. This was a win for the latter.