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Let's spend a little more time with the Interior Department's Gulf of Mexico lease sale Wednesday that, as we noted here, drew modest bidding and interest despite making 77 million acres available.

Expand chart
Data: Bureau of Ocean Energy Management; Chart: Chris Canipe/Axios

Why it matters: While the sale was scheduled during the Obama years, Interior's decision to make so much acreage available, the lowering of shallow-water royalty rates, and the tepid bidding bring two trends into focus: The Trump administration's aggressive promotion of U.S. fossil fuels and the wealth of other options that companies have outside the Gulf.

Quoted: Michael Webber, deputy director of the Energy Institute at the University of Texas at Austin, summed up the modest sale in an interview with Canada's Business News Network...

“It’s good for oil and gas companies, not so great for the U.S. taxpayer, but it is consistent with this whole ‘energy dominance’ theme. The funny part is, we’re already energy dominant as it is, or on track to be energy dominant, from our onshore assets. We really didn’t need the offshore assets, we could have held them back to wait until prices were higher,” he said.

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Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.

Kamala Harris, the new left's insider

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Progressive leaders see Sen. Kamala Harris, if she's elected vice president, as their conduit to a post-Biden Democratic Party where the power will be in younger, more diverse and more liberal hands.

  • Why it matters: The party's rising left sees Harris as the best hope for penetrating Joe Biden's older, largely white inner circle.

If Biden wins, Harris will become the first woman, first Black American and first Indian American to serve as a U.S. vice president — and would instantly be seen as the first in line for the presidency should Biden decide against seeking a second term.

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