Oil companies have offered a combined $264 million in a drilling rights auction, which was mandated under a compromise reached last year over a federal climate bill.
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BIDEN ADMIN LAUNCHES FIRST ‘OFFSHORE WIND LEASE SALE’ IN GULF OF MEXICO AS OIL, GAS LEASES GRIND TO HALT "It showed that the Biden administration is likely trying to strike a balance between energy transition and energy security," said Yahya with S&P Global. Louisiana’s complicated relationship with the industry also is illustrated by lawsuits filed by coastal parishes over decades of alleged damage to wetlands from dredging canals to service oil and gas drilling.
All the leases being sold are for oil and gas exploration and development only, federal officials said.
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