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Biden opens the possibility of more offshore oil drilling in the Gulf of Mexico

CNBC LogoCNBC1 mo ago

Biden opens the possibility of more offshore oil drilling in the Gulf of Mexico

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The Interior's oil drilling proposal could up to 11 lease sales over the next five years, but includes an option for the administration to conduct no sales.

Roughly 15% of oil production in the U.S.comes from offshore drilling.Inside the U.S.

The Interior's most recent offshore oil and gas auction was in November in the Gulf of Mexico.


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Category: Economy

Topics: Gulf of Mexico Technology Articles Cnbc United States Markets Oil and Gas Climate change Energy US: News Climate White House Deb Haaland Source:tagname:CNBC US Source Pollution Politics Business Environment

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 22:25:01

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Reading Time: 4 minutes read

Article Length: 638 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 26137

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Main Topics: Economy

Official Website: cnbc.com

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