• 5 minutes Global Economy-Bad Days Are coming
  • 8 minutes IT IS FINISHED. OPEC Victorious
  • 14 minutes Venezuela continues to sink in misery
  • 18 minutes U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 3 hours Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 13 hours OPEC Cuts Deep to Save Cartel
  • 4 hours $867 billion farm bill passed
  • 1 hour Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 36 mins Has Global Peak Diesel Arrived?
  • 4 hours IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 9 hours Sleeping Hydrocarbon Giant
  • 5 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 5 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 14 hours And the War on LNG is Now On
  • 11 hours What will the future hold for nations dependent on high oil prices.
  • 11 hours Air-to-Fuels Energy and Cost Calculation
  • 9 hours Could Tesla Buy GM?
Alt Text

The Next Big Development In Offshore Oil & Gas

German tech company Siemens announced…

Alt Text

Will Canadian Oil Producers Cut Output?

The Canadian oil industry is…

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

Trending Discussions

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:




Back to homepage

Trending Discussions


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




Oilprice - The No. 1 Source for Oil & Energy News