US Oil Production Under Major Threat, Outlet Reports
A report published in late August argued that 15% of all U.S. oil production could end in a matter of months.
The report detailed how the Biden-Harris administration is stalling on compliance with a U.S. District Court of Maryland order that could ban all oil drilling in the Gulf of Mexico, argued William Upton of the National Pulse. Drilling within the Gulf accounts for 15% of all U.S. oil production, so shutting this down would be a huge loss for the country.
At the core of the situation, argues Upton, is the Endangered Species Act (ESA) and the National Environmental Policy Act (NEPA). These are coupled with a biological assessment of the Gulf that commenced just days before former President Donald Trump left office. (LEARN MORE: Global Stock Markets Plummet Amid Political Confusion)
Back-Door Attempt?
The District Court ordered a new biological assessment to be completed within the region by December 20, 2024. The ruling is focused on protecting the endangered Rice whale, along with other species, but “some view the move as a backdoor attempt by Biden–Harris to bar drilling in the Gulf,” Upton wrote.
As Biden-Harris does not appear to be interjecting in the case, they are “giving their tacit approval to drilling being blocked,” Upton continued. He noted how Biden-Harris offered the fewest number of oil and gas drilling leases in U.S. history throughout their administration. (LEARN MORE: Voters Sue Election Commission Over Alleged Duty Default)
Along with producing 15% of U.S. oil, the Gulf industry brings in tens of billions of dollars every year to the U.S. economy through jobs and other means. Its loss would impact hundreds, if not tens of thousands of citizens.
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