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7/2, 6:42 AM (Source: TeleTrader)
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Biden admin to allow oil and gas leases in Gulf of Mexico

The Biden administration has released its five-year plan for offshore oil and gas drilling, which will allow up to 11 lease sales in the Gulf of Mexico and the south coast of Alaska, the United States Department of the Interior announced.

With the decision, Washington closed off new leases in the Atlantic, Pacific and Arctic Oceans amid Biden's plans to help fight climate change.

"From Day One, President Biden and I have made clear our commitment to transition to a clean energy economy," Interior Secretary Deb Haaland said in a statement.

Baha Breaking News (BBN) / NL