The Biden administration is mulling the prospect of banning new American offshore oil and natural gas drilling projects as fuel prices continue to spike, The New York Times reported Thursday.
The Interior Department’s Bureau of Ocean Energy Management, working closely with the White House to shape policy, will release its drafted five-year plan for new oil and gas drilling leases in federal waters to Congress by June 30, according to The New York Times, citing people familiar with the matter. The administration is likely to stop new offshore drilling projects in the Atlantic and the Pacific, and is considering whether to end leasing in the Arctic and Gulf of Mexico.
The Biden administration advanced a federal review of the impact of leasing public waters for offshore wind farms in the Gulf of Mexico on Tuesday.
The review is part of President Joe Biden’s goal to permit at least 30 gigawatts of offshore wind production by 2030, the Bureau of Ocean Energy Management (BOEM) announced. BOEM will study the environmental impacts of wind farm leases across a 30-million-acre swath of ocean that stretches from the Mississippi River to the U.S.-Mexico border off the coast of Texas.
“The Gulf of Mexico is well-positioned to support a transition to a renewable energy future, as much of the infrastructure already exists to support offshore wind development in the region,” said BOEM Director Amanda Lefton.