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Feds schedule Gulf offshore oil lease sale for November
Oil price surge could force Americans to pay more to heat homes: Analyst
OPIS Energy analysis global head Tom Kloza warns that heating oil and diesel prices could increase ‘incredibly’ with current demand.
President Joe Biden's administration says it has followed a court order to schedule an offshore oil and gas lease sale for the Gulf of Mexico after the Democratic president's moratorium on new oil and gas leasing on federal lands was blocked by a judge.
The sale will be livestreamed from New Orleans on Nov. 17, the Bureau of Ocean Energy Management announced in a news release Thursday. Bidding will be only by mail; walk-in bids won't be accepted, it said.
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The agency postponed lease sales scheduled in March to comply with Biden’s executive order to combat climate change. Scientists urge immediate action to slash greenhouse emissions to avoid the worst consequences of global warming, including devastating storms, floods, wildfires and droughts.
But Louisiana and 12 other states sued, and in June a federal judge found that the government had omitted steps required for such actions. The administration said in August it would comply while appealing the judge’s order.
"The Biden Harris Administration is continuing its comprehensive review of the deficiencies associated with its offshore and onshore oil and gas leasing programs," the bureau's statement said.