The Biden administration sells oil and gas leases in the Gulf of Mexico
March 29, 20234:27 PM ET
By Bill Chappell, Jeff Brady
Fossil fuel energy companies looking to extract oil and natural gas from U.S. waters in the Gulf of Mexico got a boost on Wednesday, as they secured access to 1.6 million acres of waters offered at auction.
That was just a fraction of some 73.3 million acres of federal waters the Interior Department's Bureau of Ocean Energy Management (BOEM) opened up for bidding. Officials spent more than an hour reading aloud the bids in Lease Sale 259, with some 13,600 blocks of "outer continental shelf" acreage in the Gulf of Mexico at stake.
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