The move comes as President Joe Biden seeks new ways to help lower gas prices.
U.S. President Joe Biden speaks as he visits North Carolina Agricultural and Technical State University in Greensboro, North Carolina, U.S., April 14, 2022.said it will resume selling leases to drill for oil and gas on federal lands starting next week, but with a major reduction in the number of acres offered and an increase in the royalties companies must pay to drill.
The move comes amid growing pressure for the Biden administration to do more to lower gas prices, with Republicans in particular saying it should allow more drilling. Friday's announcement, however, is likely to rankle environmentalists. During the 2020 presidential campaign, Biden had urged a complete end to drilling for oil and gas on federal lands, but courts disagreed with his initial moratorium that he signed when he took office.
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