Lease Sale 257 is reinstated and high bidders must get their lease

Biden Revives Biggest Offshore Oil, Gas Lease Sale in US History

Has anyone heard about this on the mainstream news? NO? It's because no one knew what the hell is in the bill.

When President Joe Biden signed the Inflation Reduction Act into law on Aug. 16, his signature opened the door to reinstating the largest oil and gas lease sale in U.S. history, which had been blocked by a court because of climate impact concerns.

The legislation contains a provision that reinstates the previously halted Lease Sale 257, the biggest offshore oil and gas lease in U.S. history, spanning nearly 81 million acres in the Gulf of Mexico.

Lease Sale 257, which sold at auction for $192 million in March 2019, was challenged by environmental groups, which argued that the sale violated federal law by relying on an inadequate environmental impact review that failed to accurately consider greenhouse gas emissions.

The law requires the government to reinstate $192 million in leases in the Gulf of Mexico that were blocked by another court ruling last year. And it requires two more sales in the Gulf and one in Alaska before October 2023. Those sales had been canceled under Biden. The provision reviving them was inserted into the law at the insistence of West Virginia Democratic Sen. Joe Manchin, an advocate for fossil fuels.
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