Gov’t auctions first Gulf of Mexico offshore tracts since Deepwater Horizon oil spill disaster

[seafan]

Source: AP via WP

NEW ORLEANS — The federal government’s first auction of offshore petroleum leases in the Gulf of Mexico since the Deepwater Horizon oil spill disaster in 2010 drew $337.7 million in winning bids Wednesday.

Petroleum explorers bid on 191 tracts in the western Gulf off the coast of Texas.

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ConocoPhillips submitted the greatest number of high bids, totaling $157.8 million, followed by Exxon Mobil Corp. with $63.3 million. BP also was an active player with $27.5 million in winning bids.

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A suit was filed Tuesday by several environmental groups challenging an environmental impact study before the sale — a move that could eventually overturn the sale. Interior Secretary Ken Salazar, who attended the sale, said he could not comment specifically on the suit, but believed the agency “can successfully defend this sale.”

Read more: http://www.washingtonpost.com/business/industries/govt-auctions-first-gulf-of-mexico-offshore-tracts-since-deepwater-horizon-oil-spill-disaster/2011/12/14/gIQArxcPuO_story.html

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We have learned nothing in the past 18 months.

[bengalherder]

1. K&R n/t

[Huey P. Long]

2. kr

[countryjake]

3. kick

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