The largest offshore oil and gas lease sale in US history, which included all available areas in the Gulf of Mexico, garnered only tepid interest from oil and gas companies on Wednesday. Industry and government representatives called the results encouraging and consistent. Critics deemed it an “embarrassing flop.” The sale was in the spotlight amidst the Trump administration’s push to expand drilling in federal waters, and President Trump’s repeated commitments to “energy dominance.” It was considered a test of the industry’s appetite, and the modest bids that resulted are seen as a setback to the government’s plans of stimulating investment in the gulf.

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BING NEWS:
  • Drilling for oil on public land in the US is about to get more expensive
    On April 12, the Department of Interior released a new rule that will impose stricter financial requirements for oil and gas companies that operate on federal public land — the first such change since ...
    04/20/2024 - 2:00 am | View Link
  • Biden Thwarts Trump And Blocks Mining Road, Oil Drilling In Alaska
    The president's administration barred oil and gas development on millions of acres in the state and moved to kill a controversial mining road.
    04/19/2024 - 5:47 am | View Link
  • Biden administration raises cost for oil and gas drilling on public lands for first time in decades
    Interior officials said the final rule is the first update to the U.S. oil and gas leasing program in decades.
    04/12/2024 - 10:19 am | View Link
  • Biden administration rule to bring at least tenfold cost increase for oil drilling on federal lands
    The rule represents the first comprehensive update to the federal oil and gas leasing program in more than 30 years. It comes as the U.S. pumps more crude oil than any other country in history - an ...
    04/12/2024 - 6:14 am | View Link
  • 'Unprecedented' and 'stunning' number of Trump administration alums oppose his reelection
    Matthews is part of a large group of former Trump administration officials who have ... "The media loves to obsess over the few sell-outs who openly criticize him to boost their own egos or ...
    04/11/2024 - 11:06 pm | View Link
  • More

 

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