Biden Administration Bets on Offshore Wind Boom in Oil-Rich Gulf of Mexico

By Jennifer A. Dlouhy (Bloomberg) —

The Gulf of Mexico has been a hub for US oil production for decades. A government auction Tuesday could help make it a nexus for offshore wind, too.

More than a dozen companies have qualified to bid for wind development rights during the first-ever sale of tracts off the Texas and Louisiana coast. The sites have the potential to generate 3.7 gigawatts of emission-free electricity that could be used to produce green hydrogen and provide power to Gulf Coast refineries, ports and shipyards.

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