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Energy Tomorrow Blog

Gulf Lease Sale a Positive Step for U.S. Production

federal leases  offshore oil production  us energy security  consumers 

Kevin O'Scannlain

Kevin O'Scannlain
Posted November 17, 2021

Today’s scheduled Gulf of Mexico oil and natural gas lease sale is a positive step for American energy and a more secure energy future. We’re hopeful the sale signals Biden administration willingness to work with America’s oil and gas producers to foster safe and responsible development on federal lands and waters.

The federal offshore is particularly strategic, since development there can take seven to 10 years to reach production. The industry urges the administration to follow up today’s Lease Sale 257 with more sales and to take the necessary steps to establish a new five-year offshore leasing program to replace the current program, which expires next year.

A new offshore leasing program will go a long way toward fostering the certainty that companies producing in the U.S. need to make the investments and commit the resources needed to develop critical offshore energy for the future.

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