The Trump administration’s efforts to jump-start offshore exploration got off to a weak start as a big auction of oil and gas leases in the Gulf of Mexico drew few bidders, writes The Wall Street Journal’s Timothy Puko. President Donald Trump’s administration offered up enough acres for oil and gas drilling in the gulf to cover the state of New Mexico on Wednesday, in what Interior Secretary Ryan Zinke billed as the biggest such sale in U.S. history. But only 1% of the acres offered drew a bid, and the winners paid an average of $153 an acre, some of the lowest prices of the decade. Lease sales have languished for several years, since commodity prices plummeted more than three years ago.