White House Schedules More Than 30 Oil and Gas Discovery Sales as British Sector Shrinks – Guido Fawkes

White House Schedules More Than 30 Oil and Gas Discovery Sales as British Sector Shrinks

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The US is expanding its offshore oil and gas discovery while operators in the UK warn of punishingly high windfall taxes. Compare, contrast…

The White House has scheduled the inaugural sale under its new law, called Big Beautiful Gulf 1, for 10 December this year. More than 30 sales of federal land for oil and gas drilling are now scheduled over the next 15 years…

The Gulf of America will have to conduct a minimum of two offshore lease sales by 2039 starting from next year 2026. Similarly, Alaska with its Cook inlet has to have at least six offshore sales before 2032. There will also be quarterly onshore sales in western states. Over in the UK a windfall tax is deterring all activity…

Ithaca Energy – one of the UK’s largest operators – is calling for a change to the 38% Energy Profits Levy or for it to be scrapped. The levy expires if oil falls below $71.40 a barrel and gas prices drop beneath 54 pence per therm for six months. Oil has traded below that for some months now. Projections show that current net zero policies will lose 1,000 industry jobs per month between now and 2030. Miliband not keen on energy security…