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Federal court decision could slow oil industry efforts to store carbon in the Gulf of Mexico

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ExxonMobil was expected to store CO2 in the seafloor.

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lease sale the Biden Administration held last November. ExxonMobil was the biggest spender at the time, bidding on nearly 100 leases in shallow waters. Because the areas it bid on weren’t expected to be very lucrative for oil and gas drilling,But late last week, US District Court Judge Rudolph Contreras canceled leases issued during the November sale. The enormous sale, which auctioned off 80.

 

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