Biden Admin Unveils Record-Low Final Offshore Drilling Plan, Industry Calls Foul

Published on December 16, 2023

The Biden administration on Friday disclosed its final offshore oil and gas leasing plan for the next five years with the “fewest oil and gas lease sales in history,” which the industry says fails to meet America’s growing energy needs and puts its energy security at risk. The plan, mandated by President Joe Biden’s Inflation Reduction Act (IRA), imposes significant restrictions on offshore oil and gas lease sales as part of the administration’s commitment to its climate agenda. Under the finalized plan, the Department of Interior’s (DOI) Bureau of Ocean Energy Management will conduct three lease sales in the Gulf of Mexico in 2025, 2027, and 2029, marking the fewest in the department’s periodic leasing plans. The plan explicitly excludes leasing off the Alaskan coast as well as in the Atlantic and Pacific Oceans, representing a departure from previous strategies....