The Biden Administration’s Department of the Interior (led by former New Mexico Congresswoman Deb Haaland) has struck another blow on behalf of higher gas prices with their decision to cancel leases in Alaska and the Gulf of Mexico.
While some news stories claim there was a “lack of interest” by industry in the Alaska lease issue, it is hard to understand what that could be driven by given record-setting gasoline prices across the nation.
The decision likely means the Biden administration will not hold a lease sale for offshore drilling this year. Environmental groups (naturally) praised the decision while Frank Macchiarola, senior vice president of the American Petroleum Institute noted that “the administration talks about the need for more supply and acts to restrict it.”
While not DIRECTLY impacting New Mexico, Biden/Haaland have already slashed New Mexico lease sales.