It’s no secret the Biden administration is anti-oil and gas and a new report confirms how the President’s energy stance has resulted in a record low number of new offshore oil wells in the Gulf of Mexico.
With the advent of the war in Israel and the resulting impact on crude oil prices worldwide, the lower numbers of permitted wells in the region are creating pressure on the administration. During Biden’s first two years in office, his administration approved 30% fewer oil and gas wells off the U.S. coasts compared with what the Trump administration did in its first two years.
The Bureau of Safety and Environmental Enforcement permitted 105 wells in Biden’s first two years. That’s compared to approving 148 during Trump’s first two years in office and 275 when Barack Obama took office in 2009 and 2010, according to E&E News.
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