Biden Revives Biggest Offshore Oil and Gas Lease Sale in America’s History

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When President Joe Biden on Tuesday signed the Inflation Reduction Act into law, his signature opened the door to reinstating the largest oil and gas lease sale in U.S. history that was blocked by a court due to climate impact concerns.

The Inflation Reduction Act includes provisions that direct spending, tax credits, and loans to bolster technologies like solar panels and equipment to cut pollution at coal and gas-powered power plants.

But the bill also contains a provision that reinstates the previously halted Lease Sale 257, the biggest offshore oil and gas lease in U.S. history, spanning nearly 81 million acres in the Gulf of Mexico.

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