Leases are all well and good. They still have to explore the lease for viability -- then get a permit to drill. This has been where the slow-walking has been occurring in recent past. Remains to be seen what oil companies will do, seeing where they also increased the Federal tax on royalties by about 67%. While not my area of expertise, I would guess a newly issued lease might start producing in a year or two. Which is l-o-n-g after the mid-terms. Juss say'n.
Seems like F Joe Biden is trying to close ye olde barn door long after the horse is far afield.