The Biden administration has waged war on American energy. Costs have skyrocketed. Both consumers and producers are being crushed by burdensome regulations. It is critical that Congress prioritize the passage of bipartisan legislation to unleash our nation’s offshore energy resources. Offshore energy development in the Gulf of Mexico is essential to our nation’s all-of-the-above energy strategy, offering immense economic, national security and environmental advantages.
Yet, President Biden has implemented a draconian federal offshore oil and gas leasing program that inhibits this progress. According to the Bureau of Ocean Energy Management, the U.S. Department of the Interior only plans to hold three lease sales over the over the next five years in the Gulf of Mexico. This represents the lowest number of auctions in the history of the program, as there have been at least 11 lease sales in every five-year plan since 1992.
Instead of prioritizing climate activists and implementing burdensome government regulations, Biden should collaborate with Congress to make smart environmental choices while encouraging domestic energy production. Now is the time to advance legislation that safeguards our environment, enhances our energy security and promotes economic growth. Together, we can build a stronger, more resilient energy sector and unleash America’s offshore energy potential, now and for generations to come.
Erik Milito is president of the National Ocean Industries Association , a national trade association representing the full spectrum of offshore energy companies.
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