The Biden administration is proposing the first-ever offshore wind lease sale in the Gulf of Mexico as part of a larger plan to install offshore wind sites along the country’s coasts.
The proposed lease sale is part of a plan to deploy 30 gigawatts of offshore wind energy capacity by the end of the decade, which would be enough to power 10 million homes.
The proposed sale includes an area offshore Lake Charles and two areas offshore Galveston.
Natural gas futures have fallen to levels not seen since pandemic-era lockdowns more than two years ago strangled the economic activity underpinning energy demand.
The combination of weaker-than-anticipated winter heating demand and an industrial outage that buried the domestic gas market in excess supplies has gutted prices.
The price of gas futures has plunged 80% since August.
Futures are up after stocks finished mixed yesterday. The Dow Industrials fell 84 and the S&P 500 slipped 6, but the NASDAQ added 14.
