Biden’s Oil-Leasing Review May Alter Royalties Set in 1920s
- Pause to decide where -- and if -- leasing should resume
- Energy industry is already challenging the moratorium in court
Photographer: Daniel Acker/Bloomberg
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President Joe Biden’s moratorium of oil and gas leasing buys time for a broad review of whether -- and how -- fossil fuels should be extracted from lands under the U.S. government’s control.
The result could have a profound impact on an industry that employs hundreds of thousands of Americans by determining what access it will have on a 10th of the nation’s land and almost all of its coastal waters.