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  • The Independent

    Oil companies offer $382M for offshore drilling rights in last sale before 2025

    by Matthew Brown and Matthew Daly Dec 20, 2023 3 minutes
    Source: AP2011

    Oil companies offered $382 million for drilling rights in the Gulf of Mexico on Wednesday after courts rejected the Biden administration's plans to scale back the sale to protect an endangered whale species.

    The auction was the last of several offshore oil and gas lease sales mandated under the 2022 climate law. It comes as President Joe Biden’s administration tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want to stop new drilling

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