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Biden administration proposes to offer fewest-ever offshore drilling rights sales

  • The Biden administration has released a plan to phase down oil and gas auctions in federal waters, with a maximum of three sales in the Gulf of Mexico through 2029. This plan is a significant reduction compared to previous proposals.
  • The plan falls short of Biden's campaign promise to end new federal leasing completely, disappointing both supporters and opponents of offshore drilling. It also aims to support the growing offshore wind industry and protect coastal communities.
  • While the plan is a step in the right direction for climate advocates, who wanted no new oil and gas lease sales, it is still expected to frustrate them. The Gulf of Mexico accounts for about 15% of U.S. Crude oil production.
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