The Department of Interior (DOI) has released its final five-year offshore oil and gas leasing plan, and it is being heavily criticized for its devastating impact on American jobs and innovation. The plan, which is a year and a half late, contains the fewest lease sales in the history of the program, dealing a huge blow to American energy production and national security.
In response to the plan, House Committee on Natural Resources Chairman Bruce Westerman (R-Ark.) expressed his dismay, stating, "The Biden administration’s plan to eliminate American energy production, American jobs, and American innovation is sickening. This is the worst oil and gas leasing plan in history by far."
The delay in completing the five-year program and holding lease sales has left Congress, industry, and taxpayers in the dark and created a void which OPEC+ nations have been more than happy to fill. The Biden administration's failure to conduct any new lease sales, apart from those required under the Inflation Reduction Act, and its cancellation of legally mandated lease sales has reduced investment, threatened future supply, and disadvantaged domestic producers.
Furthermore, the administration's recent decision to cancel previously issued leases in the Arctic National Wildlife Refuge and lock up millions of acres in the National Petroleum Reserve in Alaska has been described as a historically devastating decision for Alaskans and all Americans. This continued war on domestic energy production has stifled job growth and placed our energy security squarely in the hands of foreign nations.
The House Committee on Natural Resources, which is committed to holding agencies accountable, has been working to support American energy independence through the passage of the Lower Energy Costs Act and other pieces of legislation aimed at removing regulatory burdens and conducting oversight of the Biden administration's policies. The committee has also considered the BRIDGE Production Act, which would mandate four offshore oil and gas sales to be held in 2024 and 2025, helping to reduce regulatory burdens and delays to American energy production caused by the Biden administration.
The delay in issuing the offshore oil and gas leasing plan and the lack of lease sales have put American jobs and the economy at risk. Without a timely plan, investment and development will stagnate, jeopardizing future production. This is the first time the DOI has issued a delayed plan since the process was first initiated in 1980.
The Biden administration's handling of the offshore oil and gas leasing plan has raised concerns about its disregard for community input and the expressed preferences of multiple states. House Republicans argue that restricting access to America's primary offshore energy sources at a time when energy security is a top concern worldwide should never have been on the table.
The impact of the plan is expected to be felt by consumers as well, as energy prices are likely to rise. Chairman Westerman highlighted this consequence, stating that the administration does not align itself with the practical realities of supply and demand, nor does it consider the broader economic consequences, including increases in energy costs for consumers.
The House Committee on Natural Resources is determined to fight this decision in Congress and support clean, affordable, reliable, and exportable domestic energy production. The committee recognizes the importance of American jobs, innovation, and energy security and will continue to hold the Biden administration accountable for its actions that threaten these vital interests.
For additional details, please follow this link: https://naturalresources.house.gov/news/documentsingle.aspx?DocumentID=415348
