US puts Italy-sized chunk of Gulf of Mexico up for auction for oil drilling
An enormous swathe of the Gulf of Mexico, spanning an area the size of Italy, was put up for auction on Wednesday for oil and gas drilling, in the latest blow to Joe Biden’s increasingly frayed reputation on dealing with the climate crisis.
The president’s Department of the Interior offered up a vast area of the central and western Gulf, including plunging deep water reaches, for drilling projects that will stretch out over decades, despite scientists’ urgent warnings that fossil fuels must be rapidly phased out if the world is to avoid disastrous global heating. The auctions also come despite Biden’s own pre-election promise to halt all drilling on federal lands and waters.
A total of 313 tracts of ocean, spanning 1.6m acres, received high bids during the auction, the administration announced on Wednesday afternoon. There were 32 fossil fuel companies involved in the auction, collectively bidding $309.7m for drilling rights. The amount offered by the federal government was much larger than this, however. The bids will be evaluated by the government in the coming months before leases are issued.
In all, 73.3m acres (30m hectares), an area roughly the size of Italy, was made available to drilling companies, less than a month before the 13th anniversary of the Deepwater Horizon oil spill disaster. The sale, known as lease 259, had the potential to extract more than 1bn barrels of oil and 4.4tn cubic feet of gas over the next 50 years, according to the US federal government.
The auctions come just two weeks after Biden’s administration approved the controversial Willow project, a drilling endeavor in the remote tundra of Alaska’s arctic that will remove more than 600m barrels of oil over its lifetime, and the two actions have
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