Biden Administration Halts New Oil And Gas Drilling Permits

The Biden Administration has delayed or stopped work on federal oil and gas leases and permits following a court ruling that struck down the Administration’s “social cost of carbon” metric to account for climate risk when holding lease sales or issuing permits. Earlier this month, Judge James D. Cain, JR of a Louisiana district court granted a preliminary injunction sought by major fossil fuel-producing states in a lawsuit against the Biden Administration challenging the so-called “social cost of carbon” in rule-making…