The Biden administration has auctioned off 73 million acres of waters in the Gulf of Mexico to offshore oil and gas drilling, drawing criticism from environmentalists who argue it contradicts the president's campaign pledge to ban new fossil fuel development on public lands. The sale is expected to generate over $1 billion in revenue and major oil companies like Chevron, Shell, and BP are expected to submit the highest bids. The Biden administration has defended the sale, arguing that it will help the U.S. transition to a clean energy economy.
