Biden to ‘pause’ oil and gas leasing on public lands and waters

January 27, 2021 ☼ bideneconomyclimateenergy

Source: MPR News

Link: Biden to ‘pause’ oil and gas leasing on public lands and waters

Fossil fuel extraction on federal lands generates billions of dollars in royalties and revenues for local and state economies. But it’s also responsible for nearly a quarter of the country’s total greenhouse gas emissions, and the Biden administration appears to be serious about cutting the country’s outsized contribution to global warming.

This is a touchy one. The fossil fuel industry is declining, very slowly, but will continue to decline. Coal is already on life support. It is necessary for policy to speed up this decline and the move to renewables.