Just days after the United States tried to reclaim climate change leadership at COP 26, with its front man John Kerry claiming the conference a "success", the Department of Interior conducted the largest oil and gas lease sale in history. Eighty million acres of the Gulf of Mexico's OCS, an area of the size of Florida, were put on the auction block. Exxon led bidders with bids on just 1.7 million acres. The industry stocked up on leases during the friendly regime of Herr Trumpillini. Companies have 14 million acres in their inventories, enough to keep them busy for the next ten years at current rates of production. Biden put a temporary hold on lease sales when he came into office. States relying on oil and gas exploration filed suit to enjoin the temporary moratorium and
succeeded in obtaining an injuction against the pause in leasing. The administration agreed to resume sales while it appeals the lower court ruling. Conservationists argue that the administration could have done more to halt or restrict lease sales. Industry spokespersons say the law requires the Interior Department to conduct a leasing program. [
Chevron deepwater platform, credit: Getty Images]
Industry flacks are quick to claim that Biden's attempt to restrict offshore drilling is a cause of soaring oil prices, but they ignore the fact il prices are global, set in part by foreign actors like OPEC. It will take years for the leases auctioned Wednesday to produce oil, if at all. The lease sale has the potntial of releasing 723 million metric tons of COMAGA types are quick to claim that Biden's attempt to restrict offshore drilling is a cause of soaring oil prices, but they ignore the fact il prices are global, set in part by foreign actors like OPEC. It will take years for the leases auctioned Wednesday to produce oil, if at all.
This lease sale has the potntial of releasing 723 million metric tons of CO₂ Hardly a headline an administration that wants to leverage the owrld into reducing fossil fuel use wants. Meanwhile, the industry keeps its greenwashing propaganda campaign going and spending millions on Washington lobbyists. ($55.6 millioin this year). The twnety-nine legislators that denounced the Biden drilling pause received $13.4 million from the industry over their terms in office.
"Yada, yada, yada, climate change".
