Major US oil industry groups on Monday sued the administration of US President Joe Biden for halting drilling auctions on federal lands and waters this year, arguing that the government is required by law to hold regular sales.
The American Petroleum Institute (API) and 11 other groups filed the lawsuit in federal court in the Western District of Louisiana.
It seeks to compel the US Department of the Interior to reinstate the lease sales, calling the length of the stoppage “unprecedented.”
Photo: Reuters
During his election campaign, Biden promised to stop issuing new leases to oil and gas companies as part of an agenda to combat climate change and move the country off of fossil fuel use by 2050.
His administration in January paused drilling auctions pending a review of the program.
Since then, the administration has been sued by oil-producing states and industry groups who say the pause is costing them jobs and revenue.
“The law is clear: The department must hold lease sales and provide a justification for significant policy changes,” API chief legal officer Paul Afonso said in a statement. “They have yet to meet these requirements in the eight months since instituting a federal leasing pause, which continues to create uncertainty for US natural gas and oil producers.”
US Secretary of the Interior Deb Haaland in May said that a report would be released in “early summer,” and late last month told a congressional committee that it was coming “very soon.”
Interior officials would not comment on the suit.
In June, a federal judge in Louisiana granted a preliminary injunction to Louisiana and 12 other states that sued the department over the leasing freeze.
At the time, Biden administration officials said that they would comply with the ruling, but have not moved to resume auctions.
European Central Bank (ECB) President Christine Lagarde is expected to step down from her role before her eight-year term ends in October next year, the Financial Times reported. Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together, the report said, citing an unidentified person familiar with her thoughts on the matter. It is not clear yet when she might exit, the report said. “President Lagarde is totally focused on her mission and has not taken any decision regarding the end of
French President Emmanuel Macron told a global artificial intelligence (AI) summit in India yesterday he was determined to ensure safe oversight of the fast-evolving technology. The EU has led the way for global regulation with its Artificial Intelligence Act, which was adopted in 2024 and is coming into force in phases. “We are determined to continue to shape the rules of the game... with our allies such as India,” Macron said in New Delhi. “Europe is not blindly focused on regulation — Europe is a space for innovation and investment, but it is a safe space.” The AI Impact Summit is the fourth
CONFUSION: Taiwan, Japan and other big exporters are cautiously monitoring the situation, while analysts said more Trump responses ate likely after his loss in court US trading partners in Asia started weighing fresh uncertainties yesterday after President Donald Trump vowed to impose a new tariff on imports, hours after the Supreme Court struck down many of the sweeping levies he used to launch a global trade war. The court’s ruling invalidated a number of tariffs that the Trump administration had imposed on Asian export powerhouses from China and South Korea to Japan and Taiwan, the world’s largest chip maker and a key player in tech supply chains. Within hours, Trump said he would impose a new 10 percent duty on US imports from all countries starting on
STRATEGIC ALLIANCE: The initiative is aimed at protecting semiconductor supply chain resilience to reduce dependence on China-dominated manufacturing hubs India yesterday joined a US-led initiative to strengthen technology cooperation among strategic allies in a move that underscores the nations’ warming ties after a brief strain over New Delhi’s unabated purchase of discounted Russian oil. The decision aligns India closely with Washington’s efforts to build secure supply chains for semiconductors, advanced manufacturing and critical technologies at a time when geopolitical competition with China is intensifying. It also signals a reset in relations following friction over energy trade and tariffs. Nations that have joined the Pax Silica framework include Japan, South Korea, the UK and Israel. “Pax Silica will be a group of nations
RSS