The main dynamical feature of the Gulf of Mexico is the Loop Current, which is a portion, upstream of the Gulf Stream, of the North Atlantic western boundary current that carries ocean waters from the Tropics towards the high latitudes. It was first brought to public attention when contamination at the site was noticed in 2010 . February 22, 2023 at 11:14 p.m. EST. The proposed sale, which could take place as soon as this summer, includes areas offshore Lake Charles, Louisiana . We use cookies on our website to give you the most relevant experience. Offshore projects cost billions and rarely come online in less than a decade. Offshore Forecasts Among the top 10 states with the most wind turbines, Texas ranks the highest with over 10,000 more turbines than second-ranked Iowa. New safeguards to protect offshore personnel and the environment took effect October of 2010. . 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 . Washington, D.C. 20240 These actions, which include proposing the first-ever Gulf of Mexico offshore wind lease sale, are advancing President Bidens clean energy and economic agenda to revitalize American manufacturing and harness American innovation to deliver reliable, affordable power to homes and businesses, while saving families money and strengthening energy security.Todays actionsalongside investments from President Bidens Inflation Reduction Act and Bipartisan Infrastructure Lawwill spur offshore wind deployment beyond the East Coast, boost American leadership on floating offshore wind technologies, and create good-paying jobs for workers throughout the nation, by: President Biden has taken decisive action to jumpstart the American offshore wind industry, ushering in billions of dollars in investments since he took officeincluding $9.8 billion in new investments in 2022 alone, more than triple the previous year. I think it has a future, but its not as bright as it once was, said James West, an analyst at Evercore ISI. By clicking Accept, you consent to the use of ALL the cookies. statistic alerts) please log in with your personal account. Onceall six platforms are online, they couldproduceup to560,000 barrels a day. this website. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. With strong, consistent winds in the Gulf, offshore wind will help reduce pollution and strengthen our electric grid. Several projects already are being developed along the East Coast, home to the nations first-ever wind power development, the Block Island project off the coast of Rhode Island. It will also help secure our nations energy independence while reducing costs for consumers, said Josh Kaplowitz, American Clean Powers (ACPs) Vice President for Offshore Wind, in a statement provided to POWER. About Global Maritime Distress and Safety System Visit our updated. 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.. The NCEP Global Real-Time Ocean Forecast System (Global RTOFS) data is based on the U.S. Navy implementation of Global HYCOM. Im 66, we have more than $2 million, I just want to golf can I retire? 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. President of the United States since 2021. {"Tags":[],"Categories":["Offshore"],"Excerpt":"ByPaul Takahashi (Bloomberg) A new wave of oil platforms is sweeping into the U.S. Gulf of Mexico as crude prices are riding historic levels anddemandfor barrels is higher than"}, Just enter your email and get hot news every morning. 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 push to deploy 30 gigawatts of offshore wind by 2030 to help fight climate change, Biden Considers 1st Offshore Wind Auction in Gulf of Mexico, 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. Rachel Koning Beals is a MarketWatch news editor in Chicago. NG00, A statement issued from the White House reads: For the first time, the Department of the Interior has proposed an offshore wind lease sale for three areas in the Gulf of Mexico: offshore Texas and Louisiana. Offshore revenue sharing considered by U.S. House committee. Gulf of Mexico Offshore Sand Management Working Group But dont count on the new productionto close the oil-supply gap that hasplaguedthe worlds economies since the pandemic. The New York Times examined pipeline permits for the area and identified at least nine pipeline segments operated by seven oil and gas producers within a three-kilometer (1.8-mile) radius of the . We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. On February 23, 2023, the United States Court of Appeals for the Fifth Circuit set aside the final rule implementing the Southeast For-Hire Integrated Electronic Reporting Program (SEFHIER) in the Gulf of Mexico (Gulf). The utilization rate was 83.3 . By harnessing our abundance of renewable natural resources, these projects will unleash economic growth here at home andcreategood paying jobs. Article. The Gulf of Mexico is an angling mecca if ever there was one. 1X. Offshore seismic data firm TGS, in collaboration with oilfield services giant SLB, this week announced the Engagement III ultra-long offset ocean-bottom node (OBN) acquisition in Green Canyon, U.S. Gulf of Mexico. Bldg. National Oceanic and Atmospheric Administration. It was viewed 11 times while on Public Inspection. Monday . A new wave of oil platforms is sweeping into the U.S. Gulf of Mexico as crude prices are riding historic levels anddemandfor barrels is higher than ever. BP Plcs Argos and Shell Plcs Vito floating production platforms that are taller than 20-story buildings and havedecks the size of football fields will start pumping crudeoff the Louisiana shore later this year. A new tool was used in the Gulf of Mexico on Wednesday to monitor the water and support red tide research, human health and the ecosystem. (Mouseover and click the desired area to view the valid Global Ocean Model Currents 0-72 hour forecast data) The U.S. offshore wind market saw $9.8 billion in new investments in 2022, more than triple the prior year. 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. The Biden-Harris administration is on track to hit self-defined targets to lease seven new areas and perform 16 project environmental reviews. The Biden administration on Feb. 22 announced the first-ever lease sale for offshore wind power development in the Gulf of Mexico. View accurate Gulf of Mexico wind, swell and tide forecasts for any GPS point. The AP is solely responsible for all content. Phone: 202-208-6474BOEM Public Affairs. But opting out of some of these cookies may affect your browsing experience. Listen to article. Since the start of the current . The department said several environmental and "equity" considerations will be considered by Interior as it considers lease proposals. The proposed sale is part of the leasing path announced by Secretary Haaland in 2021 to meet the U.S. administration's goal to deploy 30 gigawatts (GW) of offshore wind energy capacity by 2030 and follows the Department's approval of the nation's first two commercial-scale offshore wind projects. The area offshore Lake Charles could be modified and possibly shrunk based on the comments received, and BOEM may decide to offer only one of two lease areas proposed off Galveston. Linked data may not represent the latest forecast. The Biden administrations 30-gigawatt goal relies largely on using platforms anchored to the sea bottom, with power transported to shore and distributed locally from there. Reading Time: 11 minutes. Frombuilding shipsbig 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 said the Gulf of Mexico lease sale will auction three sites off the coast of Galveston, Texas, and Lake Charles, Louisiana. The strike involves Unites ByKari Lundgren and Christian Wienberg (Bloomberg) Norways Equinor ASA agreed to buy Suncor Energy UK Ltd. for $850 million, adding to its oil and gas production in the North Get the latest gCaptain articles and breaking news, For general inquiries and to contact us, please email: [emailprotected], To submit a story idea or contact our editors, please email: [emailprotected]. Learn more about how Statista can support your business. 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. A 2020 study conducted by NREL quantified the Gulf's gross offshore wind resource capacity at 1.87 terawatts (TW). This proposed lease sale will continue the legacy of energy production in the Gulf of Mexico, providing Americans with an affordable clean energy supply. Get Mexico City's weather and area codes, time zone and DST. Foundation, Weather For Boaters - BoatU.S. Multiplied over a field of turbines, these siting decisions mean real differences in the profitability of a project. Please enable JavaScript to use this feature. wind power is also intermittent, meaning that turbines are reliant on weather and therefore arent capable of generating electricity 24/7. Opt in to send and receive text messages from President Biden. ", IHS Markit, Monthly number of offshore oil and gas rigs in the U.S. Gulf of Mexico from May 2021 to February 2023, by contract type Statista, https://www.statista.com/statistics/918575/gulf-of-mexico-offshore-oil-rig-count-by-contract-type/ (last visited March 04, 2023), Monthly number of offshore oil and gas rigs in the U.S. Gulf of Mexico from May 2021 to February 2023, by contract type [Graph], IHS Markit, February 17, 2023. The U.S. administration on Wednesday proposed the first-ever offshore wind lease sale in the Gulf of Mexico, as part of the government's plan to spur offshore wind deployment beyond the East Coast.. Please create an employee account to be able to mark statistics as favorites. The wind turbine charges a bank of batteries, thus enabling efficient wind turbine power distribution throughout the grid. to incorporate the statistic into your presentation at any time. How would you describe staffing levels at your firm currently? The National Ocean Industries Association (NOIA), a trade group for offshore energy businesses, said offshore wind would complement the Gulfs existing energy industry. Government studies have shown that the Gulf of Mexicos shallow waters, and its proximity to oil and gas infrastructure, make it a promising area for offshore wind development. The announcement comes as the number of offshore oil and gas leases granted under the Biden administration have shrunk to historic lows. In, IHS Markit. Companies have slashed deepwater exploration budgets primarily in response to recent oil busts and the pandemic, which squeezed revenues. Lawmakers launch a fresh push for a bill that would make us stick with daylight-saving time all year. The Business Network has identified $17 billion in new investments driven by offshore wind activity in the United States since 2014. +2.18% Luke Metzger, executive director of Environment Texas, in a statement to POWER said, Offshore wind will be a great complement to Texas onshore renewable energy resources. Hayes Framme, the head of new markets and supply chain for rsted, applauded the proposed sale and said the company is assessing these new opportunities. The President has also set bold goals of deploying 30 gigawatts (GW) of offshore wind by 2030, as well as 15 GW specifically of floating offshore wind by 2035. block. The sale remains tentative. This category only includes cookies that ensures basic functionalities and security features of the website. Because the Gulf of Mexico already has so much infrastructure in place, operators are shifting to an infrastructure-led exploration strategy.. While advancing the first large-scale projects, and new manufacturing and port activity along the East Coast, the Administration has also supported development of the entire supply chain that stretches across other regions, from steel production in Alabama, Kentucky, and West Virginia to shipbuilding in Texas, Louisiana, Mississippi, and beyond. The proposed lease areas total nearly 302,000 acres. BIDEN ADMIN WEIGHS COMPLETE BLOCK ON OFFSHORE OIL DRILLING AS GAS PRICES KEEP RISING. The proposed sale, which could take place as soon as this summer . High resolution CoastWatch imagery. Necessary cookies are absolutely essential for the website to function properly. All Rights Reserved BNP Media. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 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. Growth was primarily driven by lease auction fees, though more than $4.4 billion was directed to port infrastructure, supply chain development, and transmission. Interior is "considering lease stipulations to ensure that communities, particularly underserved communities, are considered and engaged with early and often throughout the offshore wind energy development process, that potential impacts and benefits from lessees projects are documented, and lessees project proposals are informed by or altered to address those impacts and benefits. For example, Interior said it will take into account Bidens executive order on "Advancing Racial Equity and Support for Underserved Communities Through the Federal Government" as it conducts its wind lease auctions. Links Profit from the additional features of your individual account. ", 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. US Dept of Commerce Current local time in Mexico - Ciudad de Mxico - Mexico City. 1849 C Street, NW Texas has more wind turbines than any other state. "Monthly number of offshore oil and gas rigs in the U.S. Gulf of Mexico from May 2021 to February 2023, by contract type." 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 push to deploy . Safety Just in the first few weeks of 2023, the Biden-Harris Administration has already taken several new steps to continue historic progress on offshore wind development, with key highlights including: We'll be in touch with the latest information on how President Biden and his administration are working for the American people, as well as ways you can get involved and help our country build back better. Other key findings from the report include: The advancement of an offshore wind lease sale in the Gulf of Mexico is a game-changer, said Liz Burdock, founder and CEO of the Business Network for Offshore Wind, in a statement provided to POWER. Visit our updated, This website requires certain cookies to work and uses other cookies to help you have the best experience. This statistic is not included in your account. Offshore waters forecasts are subdivided by zone, each identified by text description and a Universal Generic Code (UGC). Instead of launching megaprojects to explore in ever deeper waters farther from shore, producers are increasingly shifting to smaller designs and subsea tiebacks, which connect new oil and gas production to existing networks of platforms and pipelines. . Copyright 2023 TheAssociated Press. 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. This page is also available in a text version. Also out this week, the 2023 U.S. Offshore Wind Market Report found state demand for offshore wind nearly doubled in 2022. Updated on: December 29, 2022 / 10:02 PM / CBS/AP. Okaloosa-Walton County Line to Mexico Beach 20 to 60 NM out. Kimberly's Reef is Florida Gulf Coast University's . Chart. USCG Broadcasts The Evergreen State takes the top spot again in the U.S. News Best States ranking on the strength of its tech sector and other industries. Interior Secretary Deb Haaland, who announced the proposed sale Wednesday, said there is no time to waste in making bold investments to address the climate crisis. Building a strong domestic offshore wind industry is key to meeting that challenge head on, she said. The current loops around the Gulf, flows southeastward into the Florida Strait where it serves as a parent to the Florida current and ultimately joins the Gulf Stream. Receive updates on BOEM Marine Minerals Program (MMP) and Sand Management Working Group (SMWG) efforts. The offshore sector has beenbattered by back-to-back busts and a pandemic that forced mass layoffs and bankruptcies. We are first in your inbox with the most important news in the industry―keeping you smarter and one-step ahead in this ever-changing and competitive market. The sectors inability to quickly ramp up production when geopolitical disruptions like Russias war in Ukraineupend marketsis one reason why U.S. oil production at 11.8 million barrels a day remains below the pre-pandemic record of 13.1 million barrels a day, even with crude prices at 14-year highs. But its reinvented itself more times than people thought.. The Gulf of Mexico announcement comes on the heels of the 2023 U.S. Offshore Wind Market Report, produced by the Business Network for Offshore Wind. Todays announcement comes after years of engagement with Tribes, other government agencies, ocean users and stakeholders, and this proposed sale notice provides another opportunity for them to weigh in on potential offshore wind leasing in the Gulf of Mexico, said Klein. That statistic shows how effectively the Biden administration has been at keeping Bidens promise to dramatically shut down new oil and gas drilling. Radiofax Hardware These actions, and lease sales last year in the Pacific, expand the map for offshore wind in America and support the presidents goal of deploying 30 gigawatts (GW) of offshore wind by 2030, groups backing wind power said in a release. BOEM will further coordinate with DoD and the lessee to deconflict potential impacts throughout the project . National Data Buoy Center. Disclaimer. The, The Biden administration announced a goal of installing as much as 15 GW of floating offshore wind energy, Available on demand until February 16, 2024. 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. Biden had small cancerous lesion removed, White House doctor says, Nikki Haley tells CPAC audience she cant believe that Biden is letting China get away with so much, Jon Stewart to GOP state senator: You dont give a flying f about gun violence, Ron DeSantis skips CPAC, says Republicans act like potted plants when facing woke ideology. 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 . (AP Photo/David Goldman, File), Global Race to Boost Electric Vehicle Range in Cold Weather, Reports: 3 Children Dead, 2 Wounded in Attack at Texas Home, Paid Express Lanes Grow More Popular in Once-Reluctant South. 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. of the Interior, through its Bureau of Ocean Energy Management (BOEM), said it would open more than 300,000 acres in the Gulf, an area that long has been a major part of U.S. exploration for crude oil and natural gas. +2.06%, Exxon Mobil Corp. and Hess Corp. have made significant discoveries in Guyana while TotalEnergies SE and APA Corp. are ramping up development in neighboring Suriname. BOEM recently announced (on July 20, 2022) the first two draft wind-energy areas (WEAs) off the coasts of . 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. These stationary batteries use chemical interactions to safely store electricity from the renewable energy source so that it can be made available at a later time. The Gulf continues to be the nation's primary offshore source of oil and gas, generating about 97% of all U.S. OCS oil and gas production. These are particularly necessary further off Californias coast where the Pacific floor drops off considerably and platforms cant be anchored. Washington, D.C. 20240 The interior secretary says there is no time to waste. We earn $400,000 and spend beyond our means. The Biden . Do You Expect the Infrastructure Acts Funding to Impact Your Firm? Visit a quote page and your recently viewed tickers will be displayed here. 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.". The ruling does not affect the South Atlantic SEFHIER program. On April 5, 2022, changes to the Tropical Analysis and Forecast Branch (TAFB) offshore marine zones were made. The U.S. has trailed Europe and other areas in the development of offshore wind; a major project off the Iberian Peninsula was announced earlier this week. BP has said its existing Gulf of Mexico fields can break even with crude prices in the low-$30s, making it some of the lowest-cost oil in the world to produce. Publications. Danish wind developer rsted is already investing in infrastructure and vessels in the Gulf region for its planned U.S. offshore wind farms. The announcement comes as the number of offshore oil and gas leases granted under the Biden administration have shrunk . That means its unclear when orif offshore producers will be able to secure new Gulf leases. As a Premium user you get access to the detailed source references and background information about this statistic. The Gulf is the nations primary offshore source of oil and gas, generating about 97% of all oil and gas production on the U.S. (2 minutes) Some of the world's largest oil companies have been ordered to pay part of a $7.2 billion tab to retire hundreds of aging wells in the Gulf of Mexico that .