Alaska Oil And Gas Lease Quietly Cancelled – Gas Prices Soar Past $4


The Biden administration cancels oil and gas lease sale off the coast of Alaska, removing millions of acres from possible drilling as U.S. gas prices reach record highs.

The Biden administration has canceled one of the most high-profile oil and gas lease opportunities pending before the Interior Department. The decision, which halts the potential to drill for oil in over 1 million acres in the Cook Inlet in Alaska, comes at a challenging political moment when gas prices are hitting painful new highs.

In a statement, Interior Department spokeswoman Melissa Schwartz cited a lack of industry interest as the reason Interior was abandoning the Cook Inlet sale.

“Due to lack of industry interest in leasing in the area, the Department will not move forward with the proposed Cook Inlet [Outer Continental Shelf] oil and gas lease sale 258,” Schwartz said.

But Alaska Senator Lisa Murkowski, a Republican, released a statement rejecting the administration’s contention that there was not much interest from the industry in the lease sale.

“Citing a ‘lack of industry interest’ is nothing more than fantasy from an administration that shuns U.S. energy production. Cook Inlet is the sole source of the natural gas that more than 400,000 people in Southcentral Alaska — and significant military bases that are critical to our national security — depend on,” Senator Murkowski said.

Until now, the White House had remained silent about the massive Alaska lease. Canceling the sale would be in keeping with political promises President Joe Biden made in the name of halting global warming. But those promises have become a political challenge in the face of prices at the pump.

The average U.S. gas price continues to reach record highs, with every state averaging at least $4 a gallon, and experts say it will continue to climb. The reason for the recent surge in gas prices is due to a couple of factors, AAA said.

We call BS.

The reason is simple – it’s political. When problems arise, it’s easier to point fingers than to face accountability. The US administration has chosen climate over affordability, letting their citizens pay the price. Nothing wrong with that – just own up to it, and don’t blame Putin.



Where is gas the most expensive in the U.S.?

The average for a gallon of gas is $4.56, according to AAA, a 16-cent jump from last week and 39 cent increase from when the national record was broken in March.

California continues to have the most expensive gas in the country as of Wednesday, according to AAA, being the only state above $6 at $6.02. In total, there are six states averaging at least $5.

Here are the highest regular gas prices per gallon in the U.S.:

  • California: $6.05
  • Hawaii: $5.34
  • Nevada: $5.22
  • Washington: $5.14
  • Oregon: $5.10
  • Alaska: $5.12
  • Illinois: $4.91
  • Washington, D.C.: $4.87
  • New York: $4.86
  • Arizona: $4.82


Sources: CNN, CBS News, Bureau of Land Management, Alaska Public Media, USA Today.

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Luka Marjanovic


As Partner at Internet Bull Report, Luka brings deep expertise in Capital Markets, Financial Marketing, and Strategic Communications to his work advising clients. He is passionate about exceptional client service and devising transformational strategies that enable unrivaled performance. Luka holds a Bachelor’s in International Business and a Master’s in International Management. Over the years he has worked with organizations across a wide range of industries, playing a lead role in defining and delivering the strategy and direction of new and existing business operations. Prior to his business education, he studied biology-and-biotechnology and served in the Danish Royal Army as Second Sergeant; leading and managing a group under extreme pressure and conditions. Luka has spent significant time abroad, living and working in seven different countries. When he's not in the office, he's chasing the next gusts windsurfing, carving the mountain snowboarding, or out in the forest for a jog.