Biden administration to sell new oil leases while nurturing offshore wind


The U.S. government is moving urgently to nurture new offshore wind and carbon capture and storage (CCS) industries despite some economic hurdles, reports World Oil.

The tasks of overseeing the buildout of those nascent industries falls to Liz Klein, an environmental lawyer and clean energy champion who was recently appointed director of the Bureau of Ocean Energy Management.

Klein takes over at a critical time, as her agency makes decisions about where to install ocean wind farms, how to safely store carbon dioxide under the sea floor and the future of oil drilling in the Gulf of Mexico.

The bureau is on track to sell the first-ever offshore wind development rights in the Gulf later this year, and it’s writing rules that will govern the storage of carbon dioxide under the sea floor — including how the government makes the area available to companies eager to take advantage of newly expanded tax credits to pump captured emissions underground. Read the entire story.