The Inflation Reduction Act (IRA) brings opportunities for more Gulf oil and gas leasing.
On Wednesday the Interior Department announced that in compliance with the IRA, it has reinstated 307 bids that the agency received last year to lease 80 million acres in the Gulf of Mexico.
Analysts have said the lease sale could produce up to 1.1 billion barrels of oil.
More Gulf leasing was among the concessions that Democrats and President Biden made to Senator Joe Manchin III of West Virginia.