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.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with