Bloomberg Law
March 15, 2022, 10:00 AMUpdated: March 15, 2022, 3:54 PM

U.S. Oil Thirst Defies Easy Fix of Drilling on Federal Lands (1)

Bobby Magill
Bobby Magill

High oil prices resulting from Russia’s invasion of Ukraine aren’t expected to prompt the Biden administration to abandon its climate policy and turn to federal oil and gas leasing to bring more crude to the U.S. market, legal experts say.

The Interior Department, which oversees all federal oil and gas deposits, has limited options to do so even if it wanted to produce more oil and gas from federal lands to help alleviate spiking gasoline prices. It also has few options to expedite renewable energy development more than it already has.

“The administration has signaled that it has no plans ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.