• 3 minutes Shale Oil Fiasco
  • 7 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 12 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 16 minutes Global Debt Worries. How Will This End?
  • 2 hours americavchina.com (otherwise known as OilPrice).
  • 1 day Everything you think you know about economics is WRONG!
  • 1 day Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial support . . . Support "Carried Interest"
  • 2 days Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 1 hour Forget The Hype, Aramco Shares May be Valued At Zero Next Year
  • 8 hours Natural Gas
  • 5 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 2 days Judiciary impeachment: Congressman says Sean Misko, Abigail Grace and unnamed 3rd (Ciaramella) need to testify.
  • 15 hours Winter Storms Hitting Continental US
  • 1 day 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 2 days Quotes from the Widowmaker
  • 2 days Tesla Launches Faster Third Generation Supercharger
  • 4 hours My interview on PDVSA Petrocaribe and corruption
Alt Text

The World’s 10 Biggest Polluters

As carbon dioxide emissions become…

Alt Text

Iraq In Crisis As Oil Is Threatened

Both the U.S. and Iran…

Alt Text

Lower Oil Prices Fail To Stop U.S. Shale Growth

U.S. shale growth doesn’t appear…

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




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play