Thomas Catenacci, DCNF
President Joe Biden’s budget framework released Monday appeared to suggest the federal government will not hold any offshore lease sales for at least another 18 months.
The Department of the Interior (DOI) projected offshore oil and gas lease revenues to decline from $395.5 million in fiscal year 2022 to just $25 million in 2023, a nearly 94% year-over-year decrease, according to the budget. The estimate, which marks a significant departure from U.S. energy policy stretching back years, was relegated to page 201 of the agency’s 208-page budget proposal.
It wasn’t immediately clear how the $25 million in revenue would be generated.
“The Interior Department’s budget suggests that there will not be any lease sales in the fiscal year of 2023 which ends in September 2023,” National Ocean Industries Association (NOIA) Erik Milito told the Daily Caller News Foundation. “We know that because they’re not including any money that would come in through the lease sales.”
The massive decline in lease revenue is likely the result of the administration’s failure to issue a five-year offshore leasing plan, experts told the DCNF. Under the Outer Continental Shelf Lands Act of 1953, the DOI must formulate and publish five-year plans detailing prospective offshore oil and gas lease sales.
Without such a plan, no federal lease sales would occur. The current five-year plan expires at the end of June.
Milito added that the budget implies offshore leasing won’t continue until “at least fiscal year 2024.”
“There’s no sign that the administration is moving forward with the development of a leasing program which is what is required in order to have the actual lease sales,” Milito said. “The consequences are significant when it comes to investment, energy production, jobs and government revenues.”
On Tuesday, NOIA and the American Petroleum Institute published a report examining the consequences of the Biden administration not issuing a replacement plan. The report concluded that U.S. oil production would decline by roughly 500,000 barrels per day and more than 57,000 energy industry jobs would be lost.
“The President’s proposed FY23 budget reflects anticipated oil and gas revenues from onshore and offshore exploration, development and production,” DOI spokesperson Melissa Schwartz told the Daily Caller News Foundation in an email Wednesday. “Estimates related to future leasing are placeholders only, in recognition of the dynamics of pending litigation and appeals, as well as the Interior Department’s ongoing development of the five-year plan for the offshore program.”
In a separate email, Schwartz noted that the DOI continues to develop a five-year plan and added that most current leases are “non-producing.”
“The Interior Department is actively developing its five-year plan for the offshore program,” she said. “In the meantime, of the more than 11 million acres of offshore federal waters already under lease, more than three-quarters (75.58% or 8.29 million acres) are non-producing.”
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11 thoughts on “Biden admin appears to quietly discontinue offshore leasing for nearly two years, budget shows”
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Another attempt to shut down oil fracking,drilling
for your resources of gas and oil ,
In the now defunct,strangled,controlling fkjbiden communist regime ,USA.
Mid terms are coming Usa ,vote these stinking pieces of shit out .
China Joe is showing us all how much he is owned by the CCP. By failing to lease any areas for over 18 months, the future costs of gas are going to stay high, but there has been absolutely no movement on building new sources of power. He claims he wants 30,000 megawatts of power to be generated by wind turbines by 2030. That is nice, but the US needs 700,000 megawatts of power generation to replace gasoline. At the building rate of 30,000 megawatts every 8 years, it will take 186 years to build enough wind turbines to replace gasoline, not including diesel. To illustrate how long that is, to have enough power generation by 2030, the power companies would have had to have started building wind turbines in 1844, 20 years before the end of the American Civil War. But China Joe wants to stomp out fossil fuels now. There can be no question that he works for the Chinese who are paying him, and moonlights for the Mexican drug cartels who are paying him to keep the border open and their Fentanyl flowing north to kill AMericans, or maybe the Chinese and the Mexican drug cartels are jointly paying him to destroy America. Let’s go Brandon FJB
Folks, we are witnessing the worst president in America’s history, IMO. The country’s laws are being totally ignored, by what I think, is an illegal president. We can never allow another stolen election, no matter what. Dems used the virus, IMO. I think this president was not only illegally put into office, but is so COMPROMISED as “the BIG GUY,” America isn’t even his first priority.
He is a globalist so the US is not at all his priority. He is actively attempting to destroy the US.
Joe Biden is a sick festering malignant sore on the face of the presidency. He is not American; he is pro Chinese. A compromised traitor. Prove me wrong.
Just another facet of the Xiden “destroy America” agenda, by destroying our petroleum based energy industry. It
s well past time to prosecute ALL of the top dems, for violating their oaths of office, and, for treason. They dont belong in office, but, in jail, or 6 feet under.Nothing O BiDumb does is transparent. Transporting illegal aliens in the dark of night. Putting unrealistic environmental policies so no one can afford to drill for oil. Never answering tough questions. Pre screening reporters and their Questions. Nasty anger issues when cornered with lies. Etc.
Biden did this. Skyrocketing gas prices. Biden administration is to blame. That’s why they will lose in November
How stupid! Rising oil prices. Skyrocketing unprecedented inflation forcing us to buy oil from our enemies, minimizing our stand in the world, we have 500 years of oil, safest cleanest standards for producing high grade oil, and we pay expensive prices for a lesser grade dirty oil production that pollutes the earth. This is controlled devastation of the west.
And now he wants to deplete our Strategic Reserves. Instead of reversing the regulations he implemented with all his executive orders he signed in to law. Just saying
That is sure going to help our energy costs……lol