What could be a bigger gift to China and Russia?
U.S. President Joe Biden’s administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry.
“This is a frack ban,” Anne Bradbury, chief executive of the drilling trade group American Exploration & Production Council, said in an interview. “Even just for 60 days, it’s a really aggressive move.”
Many of the largest onshore drilling companies had stockpiled permits here in anticipation of a change in federal policy ahead of Biden's election, insulating them from a ban.
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