Biden Administration Restricts Oil And Gas Leasing In 13 Million Acres Of Alaska’s Petroleum Reserve

JUNEAU, Alaska (AP) — The U.S. oil industry’s top lobbying group says Biden administration rules restricting oil and gas leasing in 13 million acres of Alaska’s petroleum reserve are “misguided.”

The American Petroleum Institute says the rules limit development in a region “intended by Congress to bolster America’s energy security.”

The Biden administration Friday finalized rules that would restrict new oil and gas leasing and development in portions of the federal petroleum reserve in Alaska that are considered particularly sensitive as the Arctic continues to warm.

The decision finalizes protections for the National Petroleum Reserve-Alaska first proposed last year.

Environmentalists are elated. But Senate Republicans says the Democratic president’s action will lead to energy insecurity.