New York Post: Biden’s decisions will lead U.S. to energy crisis like Europe
U.S. President Joe Biden’s decision to freeze oil and gas leases could lead the U.S. into an energy nightmare already faced in Europe. This is what the US newspaper the New York Post claims.
“As Europe prepares for energy shortages and a harsh winter after Russia halted supplies through the Nord Stream pipeline, a new analysis shows that President Biden is pushing America towards the same fate by effectively ending leases on federal oil and gas wells,” the New York Post writes.
The US president has only leased 126,228 acres of land for drilling as of 20 August, the paper notes. Reportedly, no American leader since Richard Nixon has leased less than 4.4 million acres of land. The shortage of leases is causing gas and energy costs to skyrocket, the New York Post reports. The cost of natural gas in Europe has risen by more than 1,500% between August 2019 and July. After Russia stopped supplying gas via Nord Stream, the cost of oil rose 30% on Monday, the newspaper reported.
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