• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy House Dems cross party lines, demand Biden admin expand oil drilling
Economy

House Dems cross party lines, demand Biden admin expand oil drilling

by September 15, 2023
by September 15, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

A group of House Democrats penned a letter Thursday to several top Biden administration and White House officials, demanding the immediate continuance of uninterrupted offshore oil and gas leasing.

The Democrats — led by Rep. Vicente Gonzalez, D-Texas — called for the Department of the Interior (DOI) to immediately issue its legally mandated plan for offshore fossil fuel lease sales, which the agency has delayed for more than 12 months. The lawmakers noted that the Inflation Reduction Act tethers new wind leases to oil and gas leases, meaning the former could be threatened without consistent fossil fuel leasing.

‘As members of Congress representing Americans across six districts in three states, we write to urge the U.S. Department of the Interior to take immediate action necessary to hold uninterrupted offshore oil and gas lease sales under the pending 2023-2028 National Outer Continental Shelf Oil and Gas Leasing Program to avoid the now expected offshore wind leasing cliff,’ they wrote in the letter.

‘Limiting oil and gas sales to one per year eliminates much needed flexibility and opens the possibility for unforeseen circumstances that would delay or cancel lease sales, including the possibility of future administrations holding offshore wind leasing hostage,’ the Democrats continued.

Under the 1953 Outer Continental Shelf Lands Act, the federal government is required to issue plans every five years laying out prospective offshore oil and gas lease sales. The most recent plan, which was implemented in 2017, expired in June 2022.

On July 1, 2022, the DOI published a draft proposal for a replacement five-year plan, which laid out multiple options for leasing between 2023 and 2028. The plan included an option with no lease sales during the time span and a maximum option of 11 lease sales. The plan ruled out any lease sales in the Atlantic or Pacific, mainly proposing Gulf of Mexico sales.

‘We urge the Department to quickly release a full five-year oil and gas leasing program that includes all eleven proposed sales and promptly take action to hold these sales without interruption,’ Gonzalez and the other lawmakers wrote. 

‘Following through on its Congressionally mandated obligations as passed in the IRA is the only way to ensure offshore wind energy has a clear path to leasing, permitting, development, and production,’ they added. ‘This means holding oil and gas lease sales under a robust, timely, and functioning five-year program as well.’

The delay in issuing a finalized plan represents a departure from precedent set by both Republican and Democratic administrations, which have historically finalized replacements immediately after previous plans expired. The option to hold no lease sales over the course of five years also represents an unprecedented departure. 

The most recent two plans, both formulated under the Obama administration, included more than 10 offshore oil and gas lease sales each. The Trump administration sought to hold a total of 47 lease sales across the Atlantic, Pacific, and Gulf of Mexico and off Alaska’s coasts between 2022 and 2027.

‘NOIA expresses our gratitude towards Congressman Gonzalez and his fellow Members of Congress for pushing for the timely completion of the next federal offshore oil and gas leasing program,’ National Ocean Industries Association President Erik Milito said in a statement Thursday.

‘The reinstatement of consistent and predictable offshore oil and gas lease sales is paramount, safeguarding against potential disruptions to future offshore wind opportunities during this pivotal juncture for the industry,’ Milito continued. ‘Sound energy policy stands as a cornerstone of our nation’s prosperity and should always serve as a unifying issue.’

The DOI is expected to propose its five-year offshore leasing plan in the coming weeks and finalize it either later this year or early next year.

In addition to Gonzalez, Reps. Henry Cuellar, D-Texas, Lizzie Fletcher, D-Texas, Jim Costa, D-Calif., Marc Veasey, D-Texas, and Mary Peltola, D-Alaska, signed the letter. The letter was sent to Interior Secretary Deb Haaland and copied to Energy Secretary Jennifer Granholm and White House Deputy Chief of Staff John Podesta among others.

Thomas Catenacci is a politics writer for Fox News Digital.

This post appeared first on FOX NEWS
You Might Also Like
  • Nvidia Stock Rises with DJIA Inclusion & AI Driving Growth
  • U.S. Senate to hold classified briefing on unidentified objects shot down by the military over North America
  • Obama takes subtle swipe at Vance while praising Walz as ‘ideal’ Harris running mate
  • Speaker Johnson hits back at House GOP critics in closed-door meeting
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Timeless Lessons from the Godfather of Technical Analysis
next post
8 House Democrats join Republicans in voting to strike down California’s electric vehicle mandate

You may also like

House bill would pay rural telecoms to ditch China-tied tech...

November 7, 2023

AI Stocks Decline Amid DeepSeek’s Emerging AI Model

January 28, 2025

Kamala Harris presidency would undermine US in this key region

August 14, 2024

Biden spends weekend at Rehoboth Beach house after classified docs...

January 21, 2023

Trump: Fauci was not ‘big player’ in my administration, ‘not...

September 7, 2023

Poll shows Biden hitting record low approvals, falling behind against...

December 10, 2023

Georgia universities spent millions on DEI efforts prior to state...

July 4, 2023

Chip Roy demands sanctions on ICC officials going after US,...

May 8, 2024

White House website praises lifetime Supreme Court appointments as Biden...

July 30, 2024

Hunter Biden went from ‘sweetheart deal’ to ‘poison pill:’ legal...

July 27, 2023

House bill would pay rural telecoms to ditch China-tied tech...

November 7, 2023

AI Stocks Decline Amid DeepSeek’s Emerging AI Model

January 28, 2025

Kamala Harris presidency would undermine US in this key region

August 14, 2024

Biden spends weekend at Rehoboth Beach house after classified docs...

January 21, 2023

Trump: Fauci was not ‘big player’ in my administration, ‘not...

September 7, 2023

Poll shows Biden hitting record low approvals, falling behind against...

December 10, 2023

Georgia universities spent millions on DEI efforts prior to state...

July 4, 2023

Chip Roy demands sanctions on ICC officials going after US,...

May 8, 2024

White House website praises lifetime Supreme Court appointments as Biden...

July 30, 2024

Hunter Biden went from ‘sweetheart deal’ to ‘poison pill:’ legal...

July 27, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Bearish Divergence Suggests Caution For S&P 500

      June 13, 2025
    • Is a Bold Rotation Brewing in Healthcare and Biotech? Here’s What to Watch Now

      June 13, 2025
    • Three Sectors Stand Out and One Sports a Bullish Breakout

      June 13, 2025
    • RRG Update: Is Tech Ready to Break Out?

      June 13, 2025
    • What the S&P 500, VIX, and ARKK are Telling Us Now

      June 12, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,855 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,558 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,541 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,522 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,399 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,129)
    • Investing (538)
    • Stock (2,610)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Bearish Divergence Suggests Caution For S&P 500

      June 13, 2025
    • Is a Bold Rotation Brewing in Healthcare and Biotech? Here’s...

      June 13, 2025
    • Three Sectors Stand Out and One Sports a Bullish Breakout

      June 13, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,129)
    • Investing (538)
    • Stock (2,610)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Trump calls to ban US entry...

    November 5, 2023

    Israel-Hamas war: 8 more Israeli hostages...

    December 1, 2023

    Trump team files FEC complaint over...

    July 24, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here