Interior reinstates offshore oil leases after Democrat bill demand

Interior reinstates offshore oil leases after Democrat bill demand

The Home Office announced on Wednesday that it had reinstated the rights of several companies for new offshore oil exploration due to the Climate, Tax and Health Act enacted last month.

The Inflation Reduction Act required the Home Office to reinstate offers for new oil and gas leases in the Gulf that had previously been canceled by the courts.

The provision was added as a concession to get Sen. Joe Manchin (DW.Va.) to support the bill.

Manchin touted the move in a new written statement.

“I ensured that the Inflation Reduction Act reinstated this lease sale to ensure we are able to supply our locally generated energy, and I look forward to working with the Department of Interior and the entire administration to continue to implement the policies of the Lower Inflation Act for the benefit of all Americans,” he said.

The Bureau of Ocean Energy Management said Wednesday it had reinstated 307 deals worth nearly $190 million.

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