Oil Giants Pay $279M for Gulf Leases, Despite Florida's Protests
Update: 2025-12-11
Description
30 major oil companies, including Chevron, Shell, and BP, paid $279 million to lease Gulf of Mexico land, despite Floridas congressional delegations opposition due to environmental and economic concerns. BP topped bids with $61 million for 50 blocks, Chevron followed with $33 million for 22 blocks. The sale was criticized as violating a 2020 executive order and threatening Floridas tourism industry. The Department of the Interior plans more auctions in March 2026, sparking ongoing debates on energy development and environmental protection.
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