Climate bill's unlikely beneficiary: US oil and gas industry
BILLINGS, Mont. (AP) -- 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
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BILLINGS, Mont. (AP) -- 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 climate measure President Joe Biden signed bypasses the administration's concerns about emissions and guarantees new drilling opportunities.
The U.S. oil industry hit a roadblock in January when a judge struck down a $192 million lease sale in the Gulf of Mexico. The setback was short-lived.
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.
Advocates and experts are calling the Inflation Reduction Act one of the country's most important steps to address climate change and potentially decrease energy costs