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Biden Just Made a Move That Will Likely Push Gas Prices Even Higher

Biden Administration

President cancels 3 large domestic and gas leases

The high price of gasoline is displayed at a Los Angeles gas station on November 24, 2021. / Getty Images Josh Christenson • May 12, 2022 11:40 am

President Joe Biden on Thursday canceled three large domestic oil and gas lease sales days after U.S. fuel prices hit an all-time high.

Biden’s Interior Department, which was tasked with vetting a drilling lease in Cook Inlet, , cited a “lack of industry interest” when it announced the decision. The department scrapped two other leases in the Gulf of Mexico, saying it would cancel them because of “conflicting court rulings.” In addition, the plans to let all other offshore drilling leases expire next month.

The cancellation makes good on promises Biden made during his campaign to halt U.S. oil drilling during his

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