Oil companies offered a combined $264 million for drilling rights in the Gulf of Mexico in a sale mandated by last year’s climate bill compromise
Developing the leases for sale in public waters in the Gulf of Mexico could produce more than 1 billion barrels of oil and more than 4 trillion cubic feet of natural gas over 50 years, according to a
The Department of Interior sale comes two days before a deadline set in last year's climate bill that Biden signed into law. Sea level rise is a factor in Louisiana’s steady loss of coastal wetlands, which in addition to harboring a variety of fisheries and wildlife, provide a buffer between inland population areas and hurricanes that scientists say are growing stronger as the world warms.
The carbon dioxide would be carried away in pipelines and injected deep under the floor of the Gulf of Mexico, a process known as carbon capture and sequestration, or CCS. Oil and gas companies are banking on carbon capture to extend the lifespan of their fossil fuel facilities, but critics say the technology is unproven and less effective than switching to renewable wind and solar energy.
ExxonMobil spokesperson Todd Spitler declined to say if there was a link between its bids and the ship channel proposal.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
$263 million offered for Gulf oil under climate compromiseCompanies have offered a combined $264 million for drilling rights in the Gulf of Mexico in a sale mandated by last year’s climate bill compromise
Lire la suite »
Pirates board oil tanker in Gulf of GuineaThe nationalities of the crew members and the pirates were not immediately known. Communication channels with the ship are down and international authorities have been alerted, said the statement.
Lire la suite »
US to auction Gulf of Mexico oil under climate compromiseThe Biden administration is auctioning oil and gas leases across more than 114,000 square miles in the Gulf of Mexico in a sale mandated by last year's climate bill
Lire la suite »
US to auction Gulf of Mexico oil under climate compromiseThe online auction — expected to draw interest from major oil companies such as ExxonMobil and Chevron — is the first in more than a year.
Lire la suite »
US to auction Gulf of Mexico oil under climate compromiseThey could produce more than 1 billion barrels of oil over 50 years, but burning that oil would increase planet-warming carbon dioxide emissions by tens of millions of tons, the analysis found.
Lire la suite »
US auctions Gulf of Mexico oil under climate bill compromiseWednesday’s auction of Gulf of Mexico oil leases could further test the loyalty of environmentalists and young Biden voters frustrated by the approval of the Willow drilling project in Alaska.
Lire la suite »