Biden admin cancels massive oil and gas lease sale amid record-high gas prices

Biden admin cancels massive oil and gas lease sale amid record-high gas prices

The Biden administration announced Wednesday that it would ax three planned oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet.

The Biden administration announced Wednesday that it would ax three planned oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet.

Interior Department cancels oil lease of more than 1 million acres in Alaska as Americans face painfully high prices at the pump

Interior Department cancels oil lease of more than 1 million acres in Alaska as Americans face painfully high prices at the pump

US Average gas prices in the US have reached new record highs in recent days

US Average gas prices in the US have reached new record highs in recent days

The national average cost of a regular gas of gasoline reached $4.374, a new record on Tuesday, and $4.404, another record, on Wednesday.

The national average cost of a regular gas of gasoline reached $4.374, a new record on Tuesday, and $4.404, another record, on Wednesday.

White House blames Russian President Vladimir Putin for record high gas prices in US

White House blames Russian President Vladimir Putin for record high gas prices in US

Biden has also moved to release 1 million barrels of oil per day from the Strategic Petroleum Reserve for the next 6 months.

Biden has also moved to release 1 million barrels of oil per day from the Strategic Petroleum Reserve for the next 6 months.