Biden suspends new federal land leases for oil and gas exploration, orders elimination of fossil subsidies

US President Joe Biden signed a series of executive orders on the environment and climate change on Wednesday.

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Under the new orders, the US will suspend handing out new leases for oil and gas exploration on federal lands and offshore sites “to the extent possible.”

He also set the goal to turn 30 percent of US public land and water into nature reserves for wildlife preservation and double the output of offshore wind energy facilities by 2030.

Biden also ordered subsidies for fossil fuels eliminated -- a move that is currently unclear in its impact, as a lot of tax benefits for the energy industry have received the congressional nod. Read more at i24