EJ Heritage Foundation Public Finance Economist EJ Antoni discusses the congressional reconciliation bill, Biden’s executive action on offshore oil and gas drilling and US unemployment numbers
President Biden’s last-minute move a restrict oil and gas production Leaving the White House before President-elect Trump took office, he drew swift condemnation from business and energy groups.
With just two weeks left in the Oval Office, Biden on Monday issued an executive action banning new drilling and more oil and natural gas development in more than 625 million acres of US coastal and inshore waters.

Business and energy groups are urging the incoming Trump administration and Congress to reverse Biden’s ban on offshore oil and gas drilling. (Photo by Mario Tama/Getty Images, Celal Gunes/Anadolu via Getty Images/Fox News)
Biden invoked the Outer Continental Shelf Lands Act of 1953, meaning Trump could be limited in his ability to revoke the action and Congress might have to step in to give Trump the authority to redevelop federal waters.
“My decision reflects what coastal communities, businesses and beachgoers have known for a long time: that drilling off these shores could cause irreversible damage to the places we love and is unnecessary to meet energy needs of our nation,” Biden said in a statement. “It’s not worth the risks. As the climate crisis continues to threaten communities across the country and we transition to a clean energy economy, now is the time to protect these shores for our children and grandchildren “.
After the announcement, business and energy groups warned that the move would be destructive to Americans and the economy, and urged the incoming administration and Congress to reverse it.
American Petroleum Institute President and CEO Mike Sommers weighs in on Biden’s recent ban on oil and gas drilling and the administration banning certain natural gas water heaters.
“Well, the American people certainly did not vote for less energy development in the United States,” American Petroleum Institute President and CEO Mike Sommers told FOX Business’ “Morning with Maria” in reaction to the news “In fact, energy was on the ballot during this election, and energy won.”
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Sommers added that the action “is not what America voted for, and today I am calling on the United States Congress to lift this new moratorium, because it will hurt consumers and undermine American energy security.”
The US Chamber of Commerce also quickly called on Congress and the incoming administration to “use all available tools to reverse” Biden’s move.

Offshore gas rigs are silhouetted against the setting sun on May 10, 2024, near Fort Morgan, Alabama. (Photo by J. David Ake/Getty Images/Getty Images)
“Restricting energy production in the United States is a bad idea,” Christopher Guith, senior vice president of the US Chamber’s Global Energy Institute, said in a statement.
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“Americans want and need affordable, reliable, homegrown energy,” Guith said, noting that “President Biden’s own Department of the Interior concluded that banning offshore leasing would increase global greenhouse gas emissions “greenhouse effect”.
“Energy produced in America under strict environmental standards can be used here at home or exported to allies abroad, which is better for the climate, global security and our economy”, he added.

President Biden invoked the Outer Continental Shelf Lands Act of 1953, meaning Trump could be limited in his ability to revoke the action. (REUTERS/Jonathan Ernst/File Photo/Reuters Photos)
Alfredo Ortiz, CEO of the Job Creators Network, issued a strong rebuke of Biden’s offshore drilling restrictions.
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“President Biden is ending his term the same way he began it: putting the concerns of radical environmentalists ahead of the American people,” Ortiz said. FOX business. “In stark contrast, President Trump will pursue a ‘drill, baby, drill’ energy policy that will reduce inflation, help small businesses and make America affordable again.”
FOX News’ Danielle Wallace contributed to this report.






