Oil companies offer $382M for drilling rights in Gulf of Mexico in last offshore
WASHINGTON — Oil companies offered $382 million for drilling rights in the Gulf of Mexico on Wednesday after courts rejected the Biden administration’s plans to scale back the sale to protect an endangered whale species.
The auction was the last of several offshore oil and gas lease sales mandated under the 2022 climate law. It comes as President Joe Biden’s Democratic administration tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want to stop new drilling to help combat climate change.
…
Read More: Oil companies offer $382M for drilling rights in Gulf of Mexico in last offshore