EOG - GOP-led states sue Biden administration over oil and gas leasing pause

Fourteen states led by Republican attorneys general have filed lawsuits challenging the Biden administration's moratorium on new oil and gas leasing on federal lands and waters.Biden's executive order is an "aggressive, reckless abuse of Presidential power," said Louisiana AG Jeff Landry, leading a coalition of 13 states filing suit in federal court in Louisiana; Wyoming filed its own lawsuit in federal court in that state.The lawsuits allege the administration's leasing pause violates the Mineral Leasing Act that requires quarterly lease sales.Biden's move has prompted heavy criticism from the oil industry and producing states that receive half of the revenues generated from federal lands drilling within their borders.Devon Energy (DVN) and EOG Resources (EOG), two of the top oil producers on onshore federal lands in the Lower 48 states, each have said they expect their existing federal lands permits will last at least four years.

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GOP-led states sue Biden administration over oil and gas leasing pause