Offshore Wind In The Gulf Take A Back Seat To Oil Drilling Under New Law

"President Joe Biden’s administration is tapping the brakes on offshore wind energy development in the Gulf of Mexico to make way for a new fast-tracked effort to open more federal waters to oil and gas drilling.

The move, which runs counter to Biden’s ambitious goals for cutting greenhouse gas emissions and speeding the growth of renewable energy, will delay the first-ever auction of wind energy lease areas in the Gulf by at least six months.

Wind energy companies had been lining up to bid on a 174,000-acre area south of Lake Charles and a 508,000-acre area near Galveston, Texas in late December. The two lease areas have the potential to generate enough power for almost 3 million homes, according to the U.S. Bureau of Ocean Energy Management. But Biden’s signing of the Inflation Reduction Act put those plans on hold, likely until sometime this summer, federal regulators confirmed this week."

Tristan Baurick reports for the New Orleans Times-Picayune February 5, 2023.

Source: New Orleans Times-Picayune, 02/08/2023