Wednesday’s auction of Gulf of Mexico oil leases could further test the loyalty of environmentalists and young Biden voters frustrated by the approval of the Willow drilling project in Alaska.
FILE - The Centenario deep-water drilling platform off the coast of Veracruz, Mexico, in the Gulf of Mexico, is pictured on Nov. 22, 2013. The Biden administration will auction oil and gas leases across more than 114,000 square miles of public waters in the Gulf of Mexico on Wednesday, March 29, 2023, in a sale mandated by last year's climate bill compromise.
There’s one more sale scheduled in September, but it’s unknown how many more the administration could conduct, which could hinder companies’ expansion plans. The climate law also raised the royalty rate companies must pay on oil they produce. The Biden administration set the rate for Wednesday’s sale at the maximum allowed — 18.75%, versus 12.5% historically — yet that did not appear to curb interest.
Louisiana’s complicated relationship with the industry also is illustrated by lawsuits filed by coastal parishes over decades of alleged damage to wetlands from dredging canals to service oil and gas drilling. “We will work with the Department of Interior on plans for the blocks once they are awarded,” he said. “ExxonMobil takes a longterm business view, and we will evaluate the seismic and subsurface geology for future commercial potential.”
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
US to auction Gulf of Mexico oil under climate compromiseThe Biden administration is auctioning oil and gas leases across more than 114,000 square miles in the Gulf of Mexico in a sale mandated by last year's climate bill
Weiterlesen »
US to auction Gulf of Mexico oil under climate compromiseThe online auction — expected to draw interest from major oil companies such as ExxonMobil and Chevron — is the first in more than a year.
Weiterlesen »
US to auction Gulf of Mexico oil under climate compromiseThey could produce more than 1 billion barrels of oil over 50 years, but burning that oil would increase planet-warming carbon dioxide emissions by tens of millions of tons, the analysis found.
Weiterlesen »
Biden administration moves ahead with massive Gulf of Mexico drilling auction, weeks after approving Willow Project | CNN PoliticsA few weeks after allowing the controversial Willow oil drilling project in Alaska to go forward, the Biden administration is auctioning off more than 73 million acres of waters in the Gulf of Mexico to offshore oil and gas drilling.
Weiterlesen »
PREP BASEBALL ROUNDUP: G.W. Long downs Carroll in Gulf Coast Classic tourneyG.W. Long beat nearby rival Carroll 6-2 in Monday’s action at the Gulf Coast Classic III baseball tournament.
Weiterlesen »
PREP SOFTBALL ROUNDUP: Wicksburg wins three at Gulf Coast ClassicWicksburg beat Columbia Academy (Tenn.) 10-2, Mortimer Jordan 5-4 and Cherokee Academy (Texas) 8-2 Monday at the Gulf Coast Classic III softball tournament.
Weiterlesen »