Politics
Oil Industry Reels as Biden Targets Fossil Fuels in First Days
- Top Biden appointees must sign off on permits for next 58 days
- White House also plans moratorium of oil, gas and coal leasing
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Hours after taking office, President Joe Biden made good on a campaign promise to cancel the Keystone XL oil pipeline. Later that day his Interior Department mandated that only top agency leaders could approve new drilling permits over the next two months.
Next week, according to people familiar with the plans, Biden will go even further: suspending the sale of oil and gas leases on federal land, where the U.S. gets 10% of its supplies.