Oil and gas lease approved. Largest sale in history. Inflation Reduction Act reinstates sale spanning 80.8 million acres

By signing the Inflation Reduction Act, President Biden reinstated Lease Sale 257, the largest oil and gas lease sale in U.S. history. (Getty Images/iStock)

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Biden approves largest oil, gas lease sale in US history, steamrolls eco review with inflation bill
  • The Inflation Reduction Act reinstates Lease Sale 257, an oil and gas sale spanning 80.8 million acres across the Gulf of Mexico
  • “Congress has acted, the leases must be issued, and the lawsuit must be dismissed,” he continued.
  • In November, the DOI held the lease sale which generated more than $191 million in bids for 308 tracts from fossil fuel companies despite criticism from several prominent Democratic lawmakers and environmental groups. However, a federal court blocked the sale in January ruling in favor of a coalition, led by Friends of the Earth and the Sierra Club, that argued the Biden administration failed to properly analyze the climate impacts of the sale.

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