• 3 minutes Electric cars may make driving too expensive for middle classes, warns Vauxhall chief
  • 6 minutes Natural gas mobility for heavy duty trucks
  • 12 minutes Colonial pipeline hack
  • 52 mins U.S. Presidential Elections Status - Electoral Votes
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour Texas Power Outage Danger Until June 18th. Texans told to conserve energy!
  • 10 hours Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 3 days Federal Judge Says Biden Probably Wrong for Halting Drilling on Federal Land
Big Oil Used Instagram And Gen Z Lost It

Big Oil Used Instagram And Gen Z Lost It

Big oil has begun using…

The Automaker Powering Its Cars With Volcanos

The Automaker Powering Its Cars With Volcanos

An innovative new alternate fuel…

It’s Too Late To Avoid A Major Oil Supply Crisis

It’s Too Late To Avoid A Major Oil Supply Crisis

The level of capital investment…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Premium Content

U.S. Plans Largest Ever Oil & Gas Lease Sale In Gulf Of Mexico

The largest oil and gas lease sale for waters in the Gulf of Mexico in U.S. history will occur on March 21st, according to an announcement by the Trump administration on Friday.

Less than a year ago, a similar auction in the same body of water generated little interest from energy companies.

The Interior Department, which oversees all onshore and offshore licensing activities, says the auction will include 77.3 million acres of offshore waters in the Gulf for energy development.

The round had been previously announced in October, but an exact date had not been assigned. It is part of President Donald Trump’s America First Offshore Energy Strategy, which promises to expand fossil fuel activity to lower imports and create jobs.

Oil prices have been low for three years, so expensive offshore drilling projects are not a top priority for energy companies.

Last month, analysts said the oil and gas industry’s response to the Trump administration plan to open almost all of the U.S. continental shelf for drilling leases is due to be slow.

The draft program, which would replace President Barack Obama’s leasing plan through 2022, which restricted drilling in the Arctic and other federal waters, fulfills the White House’s promise to encourage the American fossil fuel sector, even as the international community opts for renewable and alternative energies in the fight against climate change.

If the proposal is adopted, 47 potential lease sales could open up 25 of 26 planning areas, with the exception being Alaska’s North Aleutian Basin, which was deemed off limits by President George W. Bush, according to a report by Oil and Gas Investor. Nineteen sales would still proceed in offshore Alaska, seven in the Pacific, twelve in the Gulf of Mexico and nine in the Atlantic.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Jill on February 19 2018 said:
    Yes, Nice to see that we will have the Cleanest waters and air in the US of A. Might as well say Good bye to our Ocean shores and Sea Food.
  • Wang Chong on February 19 2018 said:
    Hope they buy plenty of insurance. Another 5 billion dollar oil spill could wipe out a smaller company.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News