US Plans First Sales of Offshore Oil Leases in Gulf Since BP Spill

For the first time since the BP oil spill last spring and summer, the Department of the Interior will offer for sale offshore oil leases in the Gulf of Mexico, New York Times reports. Some changes have been put in place, with the intention that parcels purchased are actually drilled and not hoarded.

The department said Friday that it was more than doubling the minimum bid for the right to drill in deep water in the gulf, to $100 an acre from $37.50 an acre in the proposed sale, which is scheduled for Dec. 14. The auction encompasses more than 20 million acres of the western Gulf.

Read more: New York Times
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Tags: Oil | United States

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