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.
Similar Stories to The Trump Administration Is Pushing To Sell Offshore Drilling Leases, And It’s Tanking Profits For Taxpayers on Bing News
Megan Jula, Mother Jones
Wed, 03/21/2018 - 3:44pm
Topics: president trump s it a 77 texas louisiana mississippi alabama the bureau energy ocean management bids mike celata earlier interior secretary ryan zinke the project government oversight the trump administration s american progress major bp chevron shell treasury gulf coast land water conservation historic preservation boem s john filostrat mother jones gulf protection network the trump deepwater horizon a mexico florida gulf the trump fund boem hoke taxpayers offshore drilling drilling leases sale oil companies million year wednesday percent acre gas winning public interest industry embarrassing waters sales director price cut flop safety auction consistent final awarded investment average results called increase regulations plan royalty fire compared acres future received
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