Biden Poised to Freeze Oil and Coal Leasing on Federal Land
- Federal territories generate nearly 10% of U.S. oil production
- Oil industry leaders have vowed to fight moratorium in court
Source: U.S. Fish and Wildlife Service/Getty Images
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President Joe Biden is poised to suspend the sale of oil and gas leases on federal land, which accounts for about 10% of U.S. supplies, according to four people familiar with the matter.
The moratorium, which would also freeze coal leasing, is set to be unveiled along with a raft of other climate policies next week, according to the people, who asked for anonymity to discuss plans not yet public.