Companies bid $264M in Gulf oil sale mandated by climate law

. Burning that oil would increase planet-warming carbon dioxide emissions by tens of millions of tons, the analysis found.Bids were up 38% fromand marked the most offered in a sale since 2017. Chevron USA was the top bidder, offering $108 million for 75 tracts. BP Exploration and Production had $47 million in high bids and Shell Offshore had $20 million in high bids.the administration could conduct as it faces continued pressure over approval of the ConocoPhillips Willow project in Alaska.

The sale came two days before a deadline set in last year's climate bill. The bill also prohibits leasing public lands for renewable power unless tens of millions of acres are first offered for fossil fuels. That was a concession toManchin issued a statement saying the sale results showed the climate bill was “holding this administration’s feet to the fire” to continue fossil fuel production.

The vast majority of tracts had only one bidder as the company offers were opened Wednesday in New Orleans, in a state that is economically dependent on the oil and gas industry and especially vulnerable to climate change. ExxonMobil offered almost $10 million on 69 tracts in the northwest Gulf. The company in 2021 bid nearly $15 million for tracts in the same area. It includes shallow waters — less than 656 feet deep — where oil has mostly played out.

ExxonMobil spokesperson Todd Spitler declined to say if there was a link between its bids and the ship channel proposal.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Companies bid $264M in Gulf oil sale mandated by climate lawOil companies including Chevron and ExxonMobil offered a combined $264 million for drilling rights in the Gulf of Mexico in a sale mandated by last year’s climate bill compromise
출처: WOKVNews - 🏆 247. / 63 더 많은 것을 읽으십시오 »

‘We Finally Beat Big Oil': Gov. Newsom Signs Law Penalizing Oil Companies for Price GougingNewsom signed a new law that gives state regulators the power to penalize oil companies for making too much money, the first of its kind in the country. It’s the type of legislation the oil industry might have crushed in the past. But on Monday, the bill cleared the state Assembly with only one Democrat voting against it. Good! Only California? I wonder why? Communist Newsom
출처: nbcbayarea - 🏆 596. / 51 더 많은 것을 읽으십시오 »

Why Biden’s oil policies upset both oil companies and environmentalistsAnalysis: Willow's estimated annual production is about one-half of 1 percent of U.S. onshore oil production last year. But to environmental advocates, Willow is much bigger than that. Your disgraced president But made Ben & Jerry ecstatic Promises made, promises broken. Anyone who voted for this clown should take a break from voting in 2024
출처: washingtonpost - 🏆 95. / 72 더 많은 것을 읽으십시오 »