The Impending Climate “Crisis” in the Gulf of Mexico and Other Biden Frack Ups
A Crisis Could be Brewing in the Gulf of Mexico
by Andreas Exarheas | Rigzone Staff | Wednesday, March 30, 2022
Jeopardized American energy security and a cost of thousands of U.S. jobs and billions in government revenue.
That’s what we could see if there is a lapse in the U.S. Department of the Interior’s (DOI) five-year program for leasing in the Gulf of Mexico, according to a new analysis by the American Petroleum Institute (API) and the National Ocean Industries Association (NOIA), which was prepared by Energy and Industrial Advisory Partners (EIAP).
The next five-year offshore leasing program must be in place by July 1, 2022, but is well behind schedule, and no offshore lease sales can be held unless DOI implements a new program, API noted in a statement posted on its website. Nearly 60,000 jobs could be lost without the five-year offshore leasing program and a delay could mean nearly 500,000 barrels per day less in Gulf of Mexico production from 2022 to 2040, according to the report. On average, $1.5 billion per year in government revenue could be lost with reduced offshore production, the report noted.
https://wattsupwiththat.com/2022/03/31/the-impending-climate-crisis-in-the-gulf-of-mexico-and-other-biden-frack-ups/
