Politics

Biden Cancels 80 Million Acre Oil Lease Sale, Putting Louisiana Oil and Gas Industry in Danger

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According to the Moncla and the association, nearly 250,000 Louisiana residents work in the oil and gas industry, and 98,000 of them have offshore jobs.

President Joe Biden banned all new oil and gas leases on public land and waters for 60 days in an executive order on Jan. 20, the day he took office.

He also canceled the Keystone XL Pipeline project, resulting in the loss of as many as 11,000 energy jobs.

This is all part of an initiative to make climate change the focal point of Biden’s foreign policy and national security programs.

Financial experts say all this does is hurt the U.S. economy, eliminate countless jobs and set the stage for increased energy costs for all Americans, including sky-high gas prices.

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