The Biden administration has confirmed it is canceling the sale of three high-profile offshore oil lease sales this year. The sales were for drilling in parts of the Gulf of Mexico and off the coast of Alaska.
The change comes as the AAA national average for regular gas hit $4.40 — an all-time high.
Here & Now's Scott Tong speaks with Ali Velshi, he's MSNBC anchor and economics correspondent.
This segment aired on May 12, 2022.