Tuesday, Oct 13th

Last update07:08:39 PM GMT

You are here News Energy U.S. makes $1 billion in gulf lease sale

U.S. makes $1 billion in gulf lease sale

E-mail Print PDF

Gulf of MexicoOil companies paid more than $1 billion collectively to acquire 1.6 million acres of oil and natural gas blocks in the Gulf of Mexico, the U.S. government said.

The U.S. Interior Department's Bureau of Ocean Energy Management published the final tallies from a March 20 lease sale for the central Gulf of Mexico.

Critics of President Obama's energy policies say his administration has blocked off key areas to energy explorers. The BOEM counters its lease sales, like the one in March, are contributing to record lows for foreign oil imports.

BOEM said it awarded 307 leases for 1.6 million acres off Louisiana, Mississippi and Alabama. Combined, the accepted high bids are worth $1.1 billion.


Most Recent Related Stories...

Oil Industry Needs to Find Half a Trillion Dollars to Survive

Oil indusctry needs a trillion dollarsAt a time when the oil price is languishing at its lowest level in six years,...

Oil Services Co.,Baker Huhes, lays off 10,500

Baker Hughes "Extreme market forces" are in play in the global energy sector, oil services company Baker...

Aircraft to start hunt for Atlantic oil off East Coast

Aircraft hunting oil An aerial hunt for oil and natural gas reserves in the Atlantic Ocean is poised to...

Japan now has more car charging points than gas stations

Japanese charging pointsNissan Motor Co. has reported that Japan now has more places to charge electric vehicles than...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!