The largest oil and gas lease sale approved by Biden

US President Biden signed the Inflation Reduction Act into law on Tuesday. He overrules the necessity for an environmental review.

Biden also revived the largest oil and gas lease sale in American history. Democratic politicians and environmental organizations oppose it.

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To encourage the production of fossil fuels on federal land and water, The Department of the Interior has to take some actions.

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In the Gulf of Mexico, offshore oil and gas sale covers 80.8 million acres. Biden renewed Lease Auction 257 by signing the Inflation Reduction Act.

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A federal court prohibited the oil and gas lease sale was worth more than $191 million. Biden will challenge the ruling in federal court.

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A federal appeals panel heard the case. API Senior Vice President of Policy and Regulatory Affairs said it is a positive step.

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To read the full news- The largest oil and gas lease sale approved by Biden

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