Department of Interior
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Revisions to the 2019 rule aim to bolster safe and environmentally responsible energy operations. -
The bipartisan infrastructure law included $4.7 to start plugging wells. But the new federal money is creating logistical and regulatory challenges, raising questions about whether the money will live up to its promise.
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Some Republican members of Congress have denounced the Biden administration’s recent move to withdraw hundreds of square miles of federal land in New Mexico from oil and gas development.
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Controversial Sale 259 was conducted as mandated by the Inflation Reduction Act of 2022.
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The approval adds momentum to the Alaska North Slope’s production revival.
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The proposed sale notice consists of more than 300,000 acres in three designated areas offshore Louisiana and Texas.
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Environmental report recommends shrinking the Alaska project to three drilling sites from the five initially proposed by ConocoPhillips.
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The sale had 307 valid high bids worth more than $190 million.
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The $25 million is an initial grant from the recent Bipartisan Infrastructure Law passed last November.
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The three US lease auctions were the last planned under the current 5-year federal leasing plan.
