The Biden administration canceled all three remaining offshore oil and gas lease sales late Wednesday as gasoline prices hit an all-time high.
The Department of the Interior (DOI), which oversees all lease sales on federal lands and waters, said a sale spanning 1.09 million acres in the Cook Inlet in Alaska was canceled due to a “lack of industry interest” while two in the Gulf of Mexico were canceled “due to factors including conflicting court rulings,” in a statement Thursday to The Daily Caller News Foundation. With the cancellations, there are no more federal offshore oil and gas lease sales scheduled.
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“Unfortunately, this is becoming a pattern – the administration talks about the need for more supply and acts to restrict it,” Frank Macchiarola, the American Petroleum Institute’s senior vice president of policy, economics and regulatory affairs, said in a statement to TheDCNF.