API says Gulf sale means it's time to open the Atlantic

WASHINGTON, March 20 (UPI) -- The Interior Department's auction in the Gulf of Mexico shows more U.S. offshore waters should be open for exploration, the American Petroleum Institute said.

The Department of Interior said Wednesday it garnered more than $870 million in bids for the 1.7 million acres auctioned off in the gulf.

API Director of Upstream Operations Erik Milito said the federal government has raised more than $17.3 billion from similar auctions in the last decade.

"Holding lease sales in the Atlantic and more of the eastern Gulf of Mexico would make America stronger economically and diplomatically," he said in a statement.

API said the Atlantic Outer Continental Shelf could add as much as 1.3 million barrels of oil equivalent per day to domestic production if it were opened up for exploration.

Last month, the government released a final environmental impact statement for proposed seismic surveys in U.S. waters of the Atlantic Ocean. Current data are four-decades old. The Atlantic OCS remains off limits for exploration.

Monday marks the 25th anniversary of the Exxon Valdez oil spill off the coast of Alaska. The Sierra Club said in a statement the anniversary should serve as a reminder of the risks of offshore oil work.