Record-Size US Offshore Oil Lease Sale Draws Modest Bidding

The largest lease sale in American history in the offshore Gulf of Mexico yielded $124.76 million in winning bids Wednesday, a modest response to the Trump administration's effort to pump up investment in the region. The Interior Department had offered up more than 77 million acres (31.2 million hectares), an area twice the size of Florida, as part of a broader effort by President Donald Trump's administration to ramp up U.S. fossil fuels output. Companies bid on just 1 percent...

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