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The Biden administration announced a 60-day suspension of new oil and gas leasing and drilling permits for U.S. lands and waters.
It follows Democratic President Joe Biden’s campaign pledge to halt new drilling on federal lands and end the leasing of publicly owned energy reserves as part of his plan to address climate change.
The order did not limit existing oil and gas operations under valid leases, which means you wont see activity taper off right now as operators were busy stockpilling permits in the last few months of last year.
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