• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 10 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Does Toyota Know Something That We Don’t?
  • 5 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 21 hours America should go after China but it should be done in a wise way.
  • 5 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 4 days China is using Chinese Names of Cities on their Border with Russia.
  • 5 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 4 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 10 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
  • 5 days Putin and Xi Bet on the Global South
  • 5 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 6 days United States LNG Exports Reach Third Place
  • 6 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Big Oil and Environmentalists Sue the Government Over Offshore Drilling Plans

The U.S. oil industry and climate activists on Monday filed lawsuits against the federal government challenging its lease sale plans for the Gulf of Mexico.

While Big Oil is attacking the government for curbing the acreage to be made available to drillers, environmentalists are challenging the very existence of those plans.

"Demand for affordable, reliable energy is only growing, yet this administration has used every tool at its disposal to restrict access to vast energy resources in federal waters," said Ryan Meyers, General Counsel for the American Petroleum Institute, which filed the first suit, as quoted by Reuters.

In the other corner are climate activists from Earthjustice filed a suit on behalf of eight environmentalist organizations claiming the lease sale plans have not taken the impact of oil and gas drilling on local coastal communities into adequate consideration.

The Biden administration released its new five-year plan for offshore leases in October, causing outrage in the oil industry because of intentions to hold only three lease sales over the whole period. This would be the lowest number of lease sales over any five-year period since these plans began to be published, back in 1980.

The federal government also tried to stop a lease sale scheduled under the previous five-year plan that was to take place late in 2023. Despite its efforts, the lease sale was conducted, after the oil industry sued the Interior Department and won.

The lease sale attracted $382 million in high bids, which made it the biggest lease sale for the past eight years.

"In issuing a five-year programme with the fewest lease sales in history, the administration is limiting access in a region responsible for generating among the lowest carbon-intensive barrels in the world, putting American consumers at greater risk of relying on foreign sources for our future energy needs,” the API’s Meyers said as quoted by the FT.

ADVERTISEMENT

On the other hand, “The oil and gas industry is already sitting on 9mn acres of undeveloped leases. They certainly are not entitled to more,” Earthjustice attorney Brettny Hardy told the publication.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Cihan on February 13 2024 said:
    Why were natural gas exports restricted? Like oil stocks?

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