Law360, New York (July 17, 2009, 6:59 PM EDT) -- The U.S. government is proceeding with the sale of offshore oil and gas leases in the Gulf of Mexico that could yield hundreds of millions of barrels of oil, despite a federal appeals court decision finding the Bush-era program controlling the leases did not account for environmental damages.
The Minerals Management Service is soliciting bids for leases covering 3,400 unclaimed blocks off the coast of Texas, the agency announced Thursday. The final sale is scheduled for Aug. 19.
The territory, which covers 18 million acres, could...
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