Stung by oil's fall, bidders barely show up for latest federal lease sale
A huge offshore drilling lease sale held in New Orleans yesterday drew far less interest than hoped as crude oil prices seem to have severely dampened the industry's enthusiasm for participation.
The Bureau of Ocean Energy Management reported weak interest for one of its largest lease auctions to date, Sale 235, covering the Central Planning Area of the Gulf of Mexico. Just a small fraction of the blocks up on offer received bids, covering a much smaller geographic area than might have otherwise been the case with higher oil prices.
House Dems, GOP slam administration's offshore energy plan
House lawmakers from both parties yesterday criticized the Obama administration's five-year offshore energy leasing plan, with Republicans arguing for more drilling and Democrats saying production should be limited to avoid potential oil and gas spills.
The criticism from both sides of the aisle underscored the challenges facing the Bureau of Ocean Energy Management as the agency moves forward with its 2017-2022 leasing plan.
GULF OF MEXICO:
BP touts region's rebound, but enviros, officials disagree
The Gulf of Mexico and its coastal ecosystems have largely been mended nearly five years after the massive 2010 Deepwater Horizon oil spill, BP PLC argues in a report released yesterday.
The 40-page report highlights data and scientific studies that BP says show the effects of the spill were limited. The report also touts BP's response and cleanup efforts.
House Democrats back Obama plan to halt Gulf revenue sharing
House Democrats are quietly backing President Obama's bid to divert billions of dollars in future offshore oil and gas revenues from Gulf Coast states, a position that has angered their Gulf colleagues.
House Natural Resources Committee Democrats made their views known in a Feb. 20 letter to the Budget Committee obtained by E&E Daily. The letter was Democrats' response to the budget "views and estimates" submitted by Natural Resources Chairman Rob Bishop (R-Utah).