The Biden administration intends to offer up just three chances for oil companies to bid for the right to drill offshore over the next several years — the fewest offshore lease sales in the history of the program. It announced the details of its long-awaited offshore drilling plan for the years 2024 through 2029 on…
(Bloomberg) The Biden administration unveiled plans Friday to hold three auctions for offshore drilling rights over the next five years — angering both climate activists pushing to end the practice and oil industry advocates who want more sales.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Europe’s Richest Royal Family Builds $300 Billion Finance EmpireTop Chinese Scientist Claims India Moon Landing Nowhere Near South PoleUAW Aims For At Least 30% Wage
The administration's offshore drilling plan proposes no more than three lease sales over the next five years — the smallest number in the leasing program's history.
(Reuters) -The Biden administration's five-year plan for offshore oil and gas leasing will not include any sales in 2024 and will feature the lowest number of auctions in the history of the program in the four years to follow, according to three sources familiar with the matter. The final plan will mark a dramatic reduction from a proposal the Trump administration had crafted in 2018 that envisioned 47 lease sales, including in California and the Atlantic. It will, however, fall short of U.S. President Joe Biden's campaign promise to end new federal drilling entirely to fight climate change, after court decisions required continued leasing and last year's Inflation Reduction Act made them a pre-requisite for new offshore wind power lease auctions.
Judge promises quick decision on oil and gas lease sale - American Press americanpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanpress.com Daily Mail and Mail on Sunday newspapers.