Gulf oil, gas leases up for sale; environmentalists protest
NEW ORLEANS- The federal government is selling off oil and gas leases in the Gulf of Mexico during a sale in New Orleans.
The Bureau of Ocean Energy Management has been collecting bids from companies and will announce the results Wednesday at the Superdome.
Approximately 45 million acres will be made available for oil and gas exploration and development in the Gulf as part of the sale.
Interest has been limited in recent sales as the industry struggles with low oil prices.
Outside the Superdome, environmental groups are expected to protest the sale. The protest is part of a national effort to stop the leasing of public lands to oil, gas and coal industries.
But industry groups say the lease sales produce jobs, economic development and energy for consumers.