Interior revises drilling permit data that Biden used to criticize oil industry

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France Dernières Nouvelles,France Actualités

The Interior Department revised down its estimate of the total number of unused federal drilling permits, which the Biden administration used much of last year as a basis to criticize oil and gas producers for not increasing output to reduce high energy prices.

The latest data still show lessees maintain thousands of unused drilling permits on public lands, but the figure is significantly lower than the 9,000-plus figure Biden, Energy Secretary Jennifer Granholm, and many other Democrats had used in 2022 when gasoline prices hit a new nominal record to argue the industry was sitting on unused permits to pad profits instead of increasing output on federal lands.

BLM's monthly tab of approved applications for permits to drill, or AAPDs, was first revised substantially downward in December. The bureau included a footnote saying the number was updated to account for the discrepancy. BLM data put the number of unused permits at 9,000 or above for much of fiscal 2022, a figure the administration used to criticize the industry's capital strategies in the face of elevated oil and natural gas prices.

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France Dernières Nouvelles, France Actualités