EXCLUSIVE: Interior reinstates controversial Gulf of Mexico oil and gas lease sale
BOEM accepted the high bids for Lease Sale 257, the lone offshore lease sale carried out in 2021, and companies are being sent their lease forms for execution, according to one source familiar with the matter. The action complies with a directive from Congress, provided in the Democrats' Inflation Reduction Act, that the lease sale be reinstated within 30 days of passage.BOEM accepted 307 highest valid bids for tracts in the Gulf of Mexico auctioned for a total of $189,888,271.
The department's reinstatement of the sale is a direct challenge to President Joe Biden's campaign promise to restrict the leasing and permitting of federal lands for oil and gas development. Lease Sale 257 and three other canceled offshore lease sales received a lifeline in the Inflation Reduction Act, Democrats' signature tax, green energy, and healthcare spending bill, as part of a larger series of concessions made to secure the support of Sen. Joe Manchin , who supports leasing of federal land for oil and gas.
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