Oil Prices Loom Over Biden Bid to Pare Drilling Rights Sales
- Administration has drafted blueprint to revamp oil leasing
- Greens want permanent leasing ban to combat climate change
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The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights that falls short of the outright ban sought by some environmentalists, as rising oil and gasoline prices highlight the risks of curtailing domestic crude production.
A draft of the leasing report has already been shared with the White House Office of Domestic Climate Policy and is set to be released within weeks by the Interior Department, according to three people familiar with the matter who asked not to be named before the formal announcement.