Illustration. Source: BOEM

US five-year offshore oil & gas leasing plan puts Biden between the devil and the deep blue sea

Following a proposed final program for 2024-2029, containing the lowest number of offshore oil and gas lease sales in American history, the Biden administration found itself stuck between a rock and a hard place while trying to reconcile President Joe Biden’s climate agenda with the giveaways to the fossil fuels lobby, which Congress greenlighted in 2022 in a bid to enable offshore wind leasing. With only three lease sales in the pipeline, the new plan aims to phase down oil and gas leasing in the Gulf of Mexico and ensure rapid growth of offshore wind. This controversial plan has caused quite a stir, sparking outrage not just within the oil and gas industry but also among environmental groups.

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