Trump Administration Plans 'Largest Oil and Gas Lease Sale in US History'

By Siegel, Josh | Examiner (Washington, D.C.), The, October 24, 2017 | Go to article overview

Trump Administration Plans 'Largest Oil and Gas Lease Sale in US History'


Siegel, Josh, Examiner (Washington, D.C.), The


Interior Secretary Ryan Zinke Tuesday said his department is proposing the largest oil and gas lease sale ever held in the U.S.

The proposed region-wide lease sale covers 77 million acres in federal waters in the Gulf of Mexico, off the coasts of Texas, Louisiana, Mississippi, Alabama, and Florida.

The sale is scheduled for March and includes all available unleased areas on the Gulf's Outer Continental Shelf, the department said.

"In today's low-price energy environment, providing the offshore industry access to the maximum amount of opportunities possible is part of our strategy to spur local and regional economic dynamism and job creation and a pillar of President Trump's plan to make the United States energy dominant," Zinke said. "And the economic terms proposed for this sale include a range of incentives to encourage diligent development and ensure a fair return to taxpayers."

The sale is part of the National Outer Continental Shelf Oil and Gas Leasing Program for 2017-2022, a five-year program whose terms were established by the Obama administration.

That program scheduled 11 potential lease sales; 10 in the Gulf of Mexico and one in the Cook Inlet of Alaska. …

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