Biden administration to release federal oil leasing review soon – sources By Reuters – Investing.com

Biden administration to release federal oil leasing review soon – sources By Reuters – Investing.com

(Reuters) - The U.S. Interior Department will release a long-awaited report reviewing the environmental costs and economic benefits of the nation's federal oil and gas leasing program as early as Friday, two sources familiar with the matter told Reuters.

President Joe Biden's administration launched the review earlier this year in what had been widely seen as a first step in delivering on a campaign promise to end new federal fossil fuel drilling to fight climate change.

The report, however, is not expected to recommend a cessation of oil and gas leasing – which would likely require an act of Congress - but rather pave the way for changes in the way the federal program is administered.