Secretary of the Interior Doug Burgum has directed the Bureau of Ocean Energy Management to hold the next scheduled oil and gas lease sale in the Gulf of America. America’s Outer Continental Shelf contains a significant source of oil and gas for the nation’s energy supply, and BOEM’s latest estimates of technically recoverable oil and gas resources in undiscovered fields in the Gulf of America include 29.59 billion barrels of oil and 54.84 trillion cubic feet of gas.
'Unlike under President Biden, we will not leave our critical energy resources locked up when so many Americans are suffering through the unnecessarily high cost of living imposed by the previous administration,' Secretary of the Interior Doug Burgum said. 'Unleashing America’s energy resources will lower prices at the pump, at the grocery store and across all aspects of American life while strengthening our national security.'
Outer Continental Shelf oil and gas activities generate billions of dollars from lease sales, rental fees and royalties. The funds are distributed to the U.S. Treasury, as well as states through several different revenue sharing programs that fund conservation and outdoor recreation across the nation. The largest portion goes to the General Fund of the U.S. Treasury, which benefits all U.S. citizens through funding of daily operations of the federal government. Offshore development fuels state and federal revenues, helping fund infrastructure, education and public services. BOEM anticipates publishing a proposed notice of sale in June 2025.
Energy independence is a cornerstone of U.S. economic strength, national security and global stability, boosting American energy independence and reducing reliance on unstable foreign producers. By continuing to expand offshore capabilities, the United States ensures affordable energy for consumers, strengthens domestic industry and reinforces its role as an energy superpower.
Under the Trump administration’s leadership, Interior is taking a leading role in securing Energy Dominance for the United States. Opening the Outer Continental Shelf is central to this strategy as it unleashes domestic energy potential that had been blocked under the previous administration. Expanded Outer Continental Shelf leasing will generate tens of thousands of high-paying jobs – from exploration and production to service and supply chains.
Source: Department of the Interior
