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Illustration: Rebecca Zisser/Axios 

The effects of President Biden's restrictions on oil-and-gas leasing and permitting on federal lands and waters will be limited in the near term, the International Energy Agency said Thursday.

Driving the news: IEA's monthly oil market report says it doesn't see a "material impact on U.S. production in the short term."

  • "Operators onshore and offshore have built up a large inventory of leases on federal acreage (partly in anticipation of the change) as well as inventories of drilled but uncompleted wells (DUCs) that will allow them to sustain current rates of activity for several years," it notes.

Why it matters: The leasing freeze and temporary permitting restrictions have been among the highest-profile energy moves of the new administration.

  • They're drawing heavy pushback from the industry, Republicans and some oil-state Democrats.
  • About a quarter of U.S. oil production comes from federal lands and waters.

Yes, but: The policies are causing significant concern in New Mexico, where lots of the state's production is centered on federal lands.

Go deeper

Ben Geman, author of Generate
Feb 10, 2021 - Energy & Environment

Coal is set for a miniature pandemic rebound

Data: U.S. Energy Information Administration; Chart: Axios Visuals

U.S. coal production is still slated for a bounce-back from the pandemic lows, but it may be smaller than federal analysts previously thought.

Driving the news: The latest Energy Information Administration estimates show U.S. production rising 9% this year, down from their prior guess of 12%.

Dion Rabouin, author of Markets
45 mins ago - Economy & Business

The Fed could be firing up economic stimulus in disguise

Federal Reserve governor Lael Brainard at a "Fed Listens" event. Photo: Eric Baradat / AFP via Getty Images.

Even as global growth expectations increase and governments pile on fiscal spending measures central bankers are quietly restarting recession-era bond-buying programs.

Driving the news: Comments Tuesday from Fed governor Lael Brainard suggest the Fed may be jumping onboard the global monetary policy rethink and restarting a program used following the 2008 global financial crisis.

Democrats' hypocrisy moment

Illustration: Eniola Odetunde/Axios. Photo: Ray Tamarra/Getty Images

Gov. Andrew Cuomo should be facing explicit calls to resign from President Biden on down, if you apply the standard that Democrats set for similar allegations against Republicans. And it's not a close call.

Why it matters: The #MeToo moment saw men in power run out of town for exploiting young women. Democrats led the charge. So the silence of so many of them seems more strange — and unacceptable by their own standards — by the hour.