Biden blows past expectations with $3 billion in wind lease sales

[turbinetree]

By Oliver Willis -February 25, 2022 4:26 PM

The Biden administration's offshore wind lease sale is breaking records.

The first auction for offshore wind development rights under the Biden administration reached $3.3 billion as of Friday morning. The offshore wind lease sale, when concluded, will result in a record-breaking haul.

According to Reuters, the revenue from the auction will be more than double the revenue the government collected in the previous five years from auctions of offshore oil and gas leases in the Gulf of Mexico.

The proceeds from the auction amount to a more than 700% increase from the last such auction, which occurred in 2018 and brought in $405 million.

Published with permission of The American Independent Foundation.

https://americanindependent.com/biden-offshore-wind-energy-auction-lease-sales/

Hey, Manchin the writing is on the proverbial wall.....

[SheltieLover]

1. K&R!

[lagomorph777]

2. This implies that renewables are now more profitable than burning shit.

Uh-oh, Joe (Manchin)!

[Demovictory9]

3. Kick

[Blues Heron]

4. That's how you kick Putin in the balls right there

Great news

[Bayard]

5. Great news!

I'm sure Fox will be right on it.

[Raine]

6. WONDERFUL! 👍 nt

[in2herbs]

7. I don't know how these auctions are handled and what the govt requires of them as far as

the speed in which they engage in wind power but I hope the leases weren't purchased by oil companies who are going to sit on this investment to keep oil as the energy source.

Can someone provide more detail???

[Wounded Bear]

8. We'll never truly be energy independent until we get off of fossil fuels...nt