Worriesthat todayshigh prices wont last makeinvesting in expensive, time-consuming offshore projects a hard sell. Scientists say clean electricity such as wind power must replace electricity from burning coal and gas as soon as possible to reduce the severity of climate disturbance. The sale remains tentative. ", "Americas clean energy transition is happening right here and now," said Interior Secretary Deb Haaland in a statement. Copyright 2023 MarketWatch, Inc. All rights reserved. Marketed contracted reflects all marketed rigs that have a contract in place. View the Status of Exploration and Development Plans Subject to Enhanced Safety and Environmental Requirements in the Gulf of Mexico. From building ships big enough to transport wind turbine blades to boasting a workforce experienced in working offshore, Texas is well-positioned to be a leader in the offshore wind industry.. It will also help secure our nations energy independence while reducing costs for consumers, said Josh Kaplowitz, vice president for offshore wind with trade group,The American Clean Power Association. The comment period for the first proposed offshore wind sale in the Gulf of Mexico is now open! Last year, Shell said its global oil production had peaked in 2019 while BP in 2020 said it would cutoil and gas production worldwide40% by 2030. If leases remain suspended, Gulf production could be halved by 2040, according to the National Ocean Industries Association, which represents the offshore oil and wind industries. Not a subscriber or a registered user yet? Explore Mexico City's sunrise and sunset, moonrise and moonset. Please enable JavaScript to use this feature. Other big factors for deciding where to build include how much port and transmission infrastructure there is, and whether the seafloor allows for drilling, Shen said. Today, the Biden-Harris Administration is announcing its latest steps to expand offshore wind jobs and local economic development across the country. The Biden administration said Wednesday, Feb. 22, 2023, it is considering the first-ever lease sale for offshore wind energy in the Gulf of Mexico, a key part of a push to deploy 30 gigawatts of offshore wind by 2030 to help fight climate change. News & Technology for the Global Energy Industry. Theres probably some growth still left in the Gulf of Mexico, but its a more modest growth.. The Interior Department will open over 300,000 acres in the Gulf, long dominated by fossil-fuel drilling Even as it pushes forward to develop U.S. offshore wind energywith a lease auction now set in the Gulf of Mexico by year end, an accelerated "earthshot" for floating wind technology and . Opt in to send and receive text messages from President Biden. Those against wind say the turbines can be noisy and unappealing aesthetically, and can sometimes adversely impact the physical environment around them. National Weather Service. 1600 Pennsylvania Ave NW The Gulf of Mexico loop current brings warm Caribbean water northward between the Yucatan Peninsula and Cuba and into the Gulf. ", FOSSIL FUEL PROFITS ARE VITAL FOR GREEN ENERGY PROJECTS DEMS ROUTINELY TOUT, But while offshore oil and gas leases have sputtered under Biden, his administration is hoping to make up the difference with its latest offshore wind sale. The Biden administration set a goal of deploying 30 gigawatts of offshore wind by 2030 using traditional technology that secures wind turbines to the ocean floor, enough to power 10 million homes. Gulf of Mexico Oil Rigs: 1942-2005 (Animation) A chronology of oil and gas rig installations in the Gulf of Mexico, showing the increased number of rigs and the greater installation depths, ending by displaying the location of BP's Deepwater Horizon explosion. By some measures, offshore platforms are lessenvironmentally damaging because theyemit about half the greenhouse gas levelsoftheir shale counterparts, according to S&P Global. Updated Monthly Data last updated on 3/1/2023 11:00 AM (CST) Permit Type. The Department of the Interior announced the first lease sale in the Gulf of Mexico for wind power installations, opening over 300,000 acres in areas long dominated by fossil fuel production. These forecasts are prepared by the Ocean Prediction Center, National Hurricane Center, Honolulu Forecast Office, Juneau Forecast Office, Anchorage Forecast Office, and Fairbanks Forecast Office. The Biden administration isn't on track to set a schedule for new offshore lease sales by June 30, when the current five-year program expires, and federal budget documents show the White House . The White House, federal agencies, states, and other key stakeholders are coordinating to achieve the Presidents goals while advancing environmental justice, protecting biodiversity, supporting the creation of good-paying jobs, and promoting ocean co-use. Multiplied over a field of turbines, these siting decisions mean real differences in the profitability of a project. Outer Continental Shelf, according to BOEM. Coastal/Great Lakes Forecasts, Radiofax Charts Associated Press climate and environmental coverage receives support from several private foundations. Since Jan. 1, what is the overall trend in your region for construction materials prices (year over year)? The Interior Department will open over 300,000 acres in the Gulf, long dominated by fossil-fuel drilling CL00, +1.41% via offshore rig. Copyright 2023 TheAssociated Press. By. CHEMO II: Stability and Change in Gulf of Mexico Chemosynthetic Communities. The proposed sale, which could take place as soon as this summer, includes areas offshore Lake Charles, Louisiana . Offshore wind turbines in the Gulf of Mexico may create adverse impacts to that system. In his first two years in office, the only offshore oil and gas lease sales that have taken place under Biden have been those ordered by Congress or the courts. I've been on the Official NWS dissemination systems which can provide timely delivery of data and products are listed in ourDISCLAIMER. FILE - The five turbines of America's first offshore wind farm, owned by the Danish company, Orsted, are seen from a tour boat off the coast of Block Island, R.I., Oct. 17, 2022. The announcement comes as the number of offshore oil and gas leases granted under the Biden administration have shrunk . ", The government will also require companies to contribute to a fisheries compensatory mitigation fund to redress "potential negative impacts to commercial and for-hire recreational fishers caused by offshore wind development in the Gulf of Mexico. Stennis Space Center, MS 39529. Publications. Visit our privacy It was first brought to public attention when contamination at the site was noticed in 2010 . Visit our updated, This website requires certain cookies to work and uses other cookies to help you have the best experience. How do you expect the Infrastructure Investment and Jobs Act to impact your firms backlog in the next 2-3 years? Posted in . BOEM to Hold Gulf of Mexico Oil, Gas Lease Sale in March. BIDEN ADMIN WEIGHS COMPLETE BLOCK ON OFFSHORE OIL DRILLING AS GAS PRICES KEEP RISING. With average wind speeds, maximum water depth of 1000 m . Gulf of California: Gulf of Mexico: Hawaii: North Atlantic: North America: South Atlantic: US Atlantic: US Pacific: Washington/Oregon Coast: Regularly Updated Sea Surface Temperature (SST) Imagery: SST contour charts. The waters in the Gulf are shallow enough for traditional technology that secures wind turbines to the ocean floor. The wind turbine charges a bank of batteries, thus enabling efficient wind turbine power distribution throughout the grid. and cookie policy to learn more about the cookies we use and how we use your Marine, Tropical and Tsunami Services Branch1325 East-West Hwy, 13th floorCommunications OfficeSilver Spring, MD 20910Comments? Questions? March 1, 2023. Tags: Associated Press, business, wind power, Alabama, Louisiana, Texas, Mississippi. The ruling does not affect the South Atlantic SEFHIER program. A lease sale for the New York Bight region off the East Coast, held in February of last year, pulled in $4.37 billion. And late last year, the Biden administration allowed the federal governments five-year plan for offshore oil and gas leasing to expire for the first time in history, a lapse that will make new offshore leases difficult until a new plan is in place. Linked data may not represent the latest forecast. The first sites will be off the coasts of Texas and Louisiana. Offshore waters forecasts are subdivided by zone, each identified by text description and a Universal Generic Code (UGC). Enter your email and get some awesome stuff every week. The Gulf of Mexico announcement follows earlier Biden team news on lease sales off the East and West coasts of the U.S. Strong to gale force S winds are occurring E of the front over the eastern and central Gulf. Yep, . See here for details. Also out this week, the 2023 U.S. Offshore Wind Market Report found state demand for offshore wind nearly doubled in 2022. In December, the first auction for leases off the Pacific coast fetched more than $757 million. Updated on: December 29, 2022 / 10:02 PM / CBS/AP. Article. The industrys poor financial performance in recent years, as well as investor pressure due to environmental concerns, have hampered itsability to tapWall Streetto financeoffshore projects. The best states in the U.S. come from coast to coast. Available: https://www.statista.com/statistics/918575/gulf-of-mexico-offshore-oil-rig-count-by-contract-type/, Monthly number of offshore oil and gas rigs in the U.S. Gulf of Mexico from May 2021 to February 2023, by contract type, Available to download in PNG, PDF, XLS format, Global crude oil investment returns 2010-2021, Global proved oil reserves breakdown by country 1992-2020, Global oil reserves share by country 2020, Global seaborne trade volume of crude oil 2010-2021, Global crude oil export value by country 2021, West Texas Intermediate annual average oil price 1976-2023, Global oil consumption share 2010 & 2021, by region, Leading global oil and gas producers based on revenue 2022, Leading oil and gas producers based on market cap October 2022, Value of revenue of Saudi Aramco 2017-2021, Global oil and gas investment volume 2019-2024, by sector, Global upstream M&A deal values 2016-2021, Global oil and gas workforce by country 2019-2021, Monthly global liquid fuels consumption 2019-2022, Monthly global liquid fuels consumption by region 2019-2023, Global oil products demand outlook 2020-2045, Oil and gas companies most affected in net zero emissions scenario 2030, Gulf of Mexico's offshore oil rig marketed utilization 2017-2020, Global offshore oil rig marketed utilization 2017-2019, Global expenditures on offshore oil platform decommissioning 2013-2040, Diamond Offshore Drilling: number of offshore rigs 2009-2022, Distribution of global crude oil production onshore and offshore 2005-2025, Global offshore oil production by water depth 2005-2015, Number of offshore rigs worldwide 2018 by region, Global new drillship contracts awarded by type 2016-2018, Number of offshore rigs worldwide by operator 2018, Global new offshore oil and gas rig contracts awarded by type 2016-2018, Global capital expenditures on offshore exploration and production 2017-2025, Offshore oil and gas: asset decommissioning requirement by structure 2000-2040, Global new jackup contracts awarded by type 2016-2018, Offshore oil and gas: asset decommissioning requirements by region 2000-2040, Scheduled newbuild vessels for subsea construction worldwide by contractor 2015-2017, KSOE's green energy sales revenue 2015-2021, Offshore production facilities in Asia-Pacific, Value of money held offshore by selected U.S. companies 2014, Global new major offshore oil and gas project approvals 2013-2019, Find your information in our database containing over 20,000 reports. Across Louisiana, bp employs some 400 people and supports more than 6,200 additional jobs, spending about $65 million annually with over 50 suppliers.. Offshore teams also receive 24/7 support including constant communication and real-time data . The White . A bloom of the toxic algae known as red tide continues on the Southwest Florida coast this week as spring break season gets underway on area beaches. You need a Statista Account for unlimited access. The White House On April 5, 2022, changes to the Tropical Analysis and Forecast Branch (TAFB) offshore marine zones were made. But even with oil at $100 a barrel, a big comeback is unlikely. As soon as this statistic is updated, you will immediately be notified via e-mail. The Biden administration said Wednesday it is considering the first-ever lease sale for offshore wind energy in the Gulf of Mexico, a key part of a . The U.S. Energy Information Administration expects Gulf output to remain flat through2023, while S&P Global Commodity Insightsprojectsproduction mayrecover to the pre-pandemic recordby the end of the year. Get full access to all features within our Business Solutions. Darrell Proctor is a senior associate editor for POWER (@POWERmagazine). If you're fishing with a local captain, however, this will be . Outer Continental Shelf, Gulf of Mexico Region, Oil and Gas Production Forecast: 2022-2031; OCS Report BOEM 2017-082 - U.S. Because the Gulf of Mexico already has so much infrastructure in place, operators are shifting to an infrastructure-led exploration strategy.. Regulatory concernsalso loom large over the offshore sector, which relieson regular federal lease auctions to maintain output. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. On Feb. 22, the Biden administration announced the first auction of offshore wind leases in the Gulf of Mexico. this website, certain cookies have already been set, which you may delete and This project has the potential to power almost 1.3 million homes with clean energy. The largest portion goes to the General Fund of the U.S. Treasury, which benefits all U.S. citizens through funding of daily operations of the Federal Government. Profit from the additional features of your individual account. Additionally it announced plans in the fall to develop floating platforms in the deep ocean for wind towers that could vastly expand offshore wind in the United States, with up to 15 gigawatts of electricity from floating sites by 2035 to power 5 million homes. +2.18% The Biden . The Biden administration said Wednesday, Feb. 22, 2023, it is considering the first-ever lease sale for offshore wind energy in the Gulf of Mexico, a key part of a push to deploy 30 gigawatts of offshore wind by 2030 to help fight climate change. Even as the industry recovers from the pandemic, its offshore investment globally is set to rise only 7% to $155 billion this year, compared withan 18% increasein shale investments, according to Rystad Energy, aconsulting firm. United States, Date See the Marine Forecasts webpage which contains information on the dissemination of NWS marine weather forecasts including frequency and broadcast schedule information as well as links to products and related information. National Environmental Policy Act and Offshore Renewable Energy, Gulf of Mexico Interactive Lease Statistics Dashboard, Western and Central GOM Topographic Features Stipulation Map Package, Top Ten Highest Bids on a Single Block for All Gulf Sales, Top Ten Highest Number of Bids on a Single Block for All Gulf Sales, Oil Spill Financial Responsibility (OSFR) for Offshore Facilities, High-Resolution Geophysical Survey Application, Biostratigraphic Chart of the Gulf of Mexico Offshore Regions, Jurassic to Quaternary, Seismic Water Bottom Anomalies Map Gallery, Gulf of Mexico Property and Collateral List Reports. This PDF is the current document as it appeared on Public Inspection on 02/23/2023 at 8:45 am. Im 66, we have more than $2 million, I just want to golf can I retire? CL00, U.S. proposes three offshore wind areas in Gulf of Mexico U.S. federal authorities have set out three lease areas for offshore wind development off the coast of Louisiana and Texas in the first auction in the Gulf of Mexico. Fox News' Sean Hannity recently accused wind turbines of "contributing to the deaths of whales and bird life," and Rep. Marjorie Taylor Greene, R-Ga., claimed dead whales "keep washing up on the beach from wind farms." The mayors of 12 towns along the Jersey Shore signed a letter calling for a pause in offshore wind development. Policy would ban new ocean drilling but allow up to 11 lease sales in Gulf of Mexico and Alaska's south coast Edward Helmore Sat 2 Jul 2022 16.43 EDT Last modified on Sun 3 Jul 2022 14.45 EDT The Biden administration announced the first-ever lease sale for offshore wind power in the Gulf of Mexico on Wednesday, the next phase among recent moves that are already adding wind power up and down the U.S. Atlantic and Pacific coasts. The Biden administration on Wednesday announced the government's first-ever offshore "wind lease sale" in the Gulf of Mexico, which will give companies a chance to bid on areas of the Gulf Coast to produce wind energy and contribute to America's "clean energy transition.". [Online]. OCS activities generate substantial revenues from lease sales, royalties on production, and rental fees. In, IHS Markit. Announces First Sale of Rights for California Offshore Wind Development, Biden Administration Throws Support Behind Floating Offshore Wind, Entergy Grows Revenue, Increases Customer Satisfaction with Value-Added Services, Flexible & Reliable: Optimal performance amid variable power generation, AI in Renewables: The Secrets to Successfully Scaling a Diversified Fleet, Over the year, 664 new organizations registered with the Business Networks.