Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Expand chart
Data: Bureau of Ocean Energy Management; Chart: Chris Canipe/Axios

A top official in Obama's Interior Department has an interesting new essay arguing that last month's Gulf of Mexico lease sale wasn't really the flop that it seemed, despite the low bidding totals.

"The extent to which the lease sale was portrayed as a disappointment appears more a factor of the Administration’s amped-up rhetoric as opposed to anything surprising or negative about the actual results."
— Tommy Beaudreau for Columbia University's Center on Global Energy Policy

One level deeper: Lots of coverage (including pieces by Axios) focused on the small percentage of tracts receiving bids and the bidding totals that were vastly lower than many prior sales.

Yes, but: Beaudreau makes several points about the sale...

  • The industry has just recently begun emerging from a low-price cycle that sapped capital investment.
  • The industry has been "laser-focused" on cutting costs and is now more disciplined and less free-spending.
  • It must be viewed in light of heightened competition from lower-cost areas with shorter development timelines, notably onshore shale.
  • For all these reasons, industry has moved away from bidding speculatively, instead focusing on prospective areas near existing infrastructure.
  • When those circumstances exist, companies still open their wallets in the Gulf — 9 blocs received bids higher than $2 million, and the highest single bid was over $7 million.

Go deeper

Updated 3 hours ago - World

Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

The latest: Haitian police inspector Frantz Champagne identified the 400 Mawozo gang as the group responsible, in a statement to AP.

Hollywood union reaches deal with studios to avert strike

Photo: AaronP/Bauer-Griffin/GC Images

A Hollywood workers' union reached a tentative deal with studios, networks and streamers that will guarantee better working conditions, meal breaks and increased wages for low-paid workers, the International Alliance of Theatrical Stage Employees (IATSE) announced Saturday night.

Why it matters: The deal, which still needs to be ratified by IATSE members, will avert a nationwide strike by film and television workers that was set to start Monday. It would have been the first strike in the union's 128-year history.

Bill Clinton released from hospital following treatment for non-COVID infection

Photo: Tasos Katopodis/Getty Images/Bloomberg via Getty Images

Former President Bill Clinton was discharged from the University of California, Irvine Medical Center on Sunday, nearly a week after he was admitted for a non-COVID-related infection, according to his spokesperson Angel Ureña.

What they're saying: "His fever and white blood cell count are normalized and he will return home to New York to finish his course of antibiotics," wrote Dr. Alpesh Amin, who has been overseeing the team of doctors treating Clinton. "On behalf of everyone at UC Irvine Medical Center, we were honored to have treated him and will continue to monitor his progress."

Worth noting: Clinton had a urinary tract infection that spread to his bloodstream, per CNN.

  • The California-based medical team had been administering IV antibiotics and fluids, and was in constant communication with Clinton's New York team, including his cardiologist, according to the former president's physicians.
  • President Biden spoke by phone with Clinton on Friday to see how he was doing, and the catch-up included a discussion of recent politics.