Page 15 - Beverly Wright News Today

The U.S. oil industry hit a legal roadblock in January when a judge struck down a $192 million oil and natural gas lease sale in the Gulf of Mexico over future global warming emissions from burning the fuels. It came at a pivotal time for Chevron, Exxon and other industry players: the Biden administration had…

The legislation mandates several oil and gas lease sales. It also locks renewables and fossil fuel together for 10 years. So if the Biden administration wants solar and wind, it must first offer new oil and gas leases.

While the climate bill signed Tuesday by President Joe Biden focuses on clean energy incentives, it also buoys oil and gas interests. Heres how.

While the law largely focuses on clean energy incentives, it also secures new drilling opportunities for oil and gas companies.

While the Inflation Reduction Act concentrates on clean energy incentives that could drastically reduce overall U.S. emissions, it also buoys oil and gas interests by mandating leasing of vast areas of public lands and off the nation’s coasts.

New Mexico is accepting applications to help it spend $10 million in settlement money from the Gold King Mine Spill, which turned rivers yellow in 2015 and caused immense economic and environmental damage in the region.

The bill bypasses concerns about emissions and guarantees new drilling opportunities in the Gulf of Mexico and Alaska.

While the Inflation Reduction Act concentrates on clean energy incentives that could drastically reduce overall U.S. emissions, it also buoys oil and gas interests by mandating leasing of vast areas of public lands and off the nations coasts.

Even members of one of the president's advisory councils say communities burdened by pollution are being shortchanged by Democrats' grandest achievement on climate change.

With the stroke of his pen, President Joe Biden signed into law Aug. 16 the largest-ever federal action in response to climate change, pumping...