Ooof: Gulf of Mexico Wind Lease Sale Attracts a Single Lonely Bid
Are investors finally starting to awaken to the scam that offshore wind represents? If the results of this week’s vaunted Biden administration lease sale in the Western Gulf of Mexico are any indication, that could be the case.
The auction resulted in a single tract of 102,480 acres offshore Louisiana attracting a winning bid of a paltry $5.6 million from German wind company RWE. Two tracts offshore Texas that were also offered attracted no bids at all.
Oof.
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