Published

May 12, 2022

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WASHINGTON, D.C. —  In response to news that the Interior Department will not hold three scheduled oil and gas lease sales, U.S. Chamber Global Energy Institute President Marty Durbin issued the following statement:

"Canceling lease sales at a time when the world is trying to wean itself off Russian energy, inflation is at a 40-year high, and gasoline and diesel prices are skyrocketing, is harmful to our energy security and our economy. The lack of new lease sales will lower future supplies, which will keep energy prices high and drive inflation for years to come. While some in the Administration have called for more domestic production, this action sends exactly the wrong signal to producers and markets and is contrary to that goal.

"This action also won’t advance climate goals since U.S. oil and natural gas would be displacing overseas fuels that typically have higher emissions. We can both increase energy security at home and for our allies while also combatting climate change, but not if the Biden Administration keeps doubling down on blocking domestic energy production."