A House of Representatives panel is set to consider significant changes to the nation's oil and gas drilling programs this week. The proposed changes include mandating numerous lease sales in the Gulf of Mexico and Alaska. These changes could be incorporated into an upcoming budget bill.
The proposal aims to support President Donald Trump's objective of increasing U.S. fossil fuel production. It intends to make it easier and more affordable to drill for oil and gas, as well as mine for coal, on federally-owned lands and waters. The House Natural Resources Committee will hold a hearing on Tuesday to discuss energy provisions in the budget reconciliation bill.
The proposal would mandate 30 oil and gas lease sales in the Gulf of Mexico over 15 years. It would also require six offshore auctions in Alaska's Cook Inlet and four onshore auctions in the state's Arctic National Wildlife Refuge within the next decade. The staff memo estimated the proposals would generate $15 billion in savings and new revenue for the federal government.