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In compliance with congressional direction in the Inflation Reduction Act, the Bureau of Ocean Energy Management (BOEM) has accepted 307 highest valid bids from Lease Sale 257 in the Gulf of Mexico, totaling $189,888,271. BOEM originally held the lease sale in November 2021; a federal judge invalidated the results in February of this year.
Leases resulting from this sale include stipulations to protect biologically sensitive resources, mitigate potential adverse effects on protected species, and avoid potential ocean user conflicts.
The Inflation Reduction Act is a historic and transformational investment toward achieving President Biden’s ambitious goals to tackle the climate crisis while lowering costs for working families and creating good-paying jobs. It will enable the Interior Department to continue playing a leading role in the transition to a clean energy economy. We are committed to implementing the law, including direction regarding the federal oil and gas programs.
All terms and conditions for the Sale are detailed in the Final Notice of Sale information package, which is available at http://www.boem.gov/Sale-257.
Today, House Republican Whip Steve Scalise (R-La.) released a statement on the Gulf of Mexico Offshore Lease Sale 257, “After their radical energy policies have wreaked havoc on our country, the Biden Administration was forced into re-instating this latest offshore lease sale. Offshore energy provides nearly 20% of America’s domestically produced oil and natural gas, and in this time of Democrat-created record high inflation and energy prices, it’s insane this wasn’t done sooner. “Scalise said, “Doubling down on radical Green New Deal policies and continuing to shut down American energy exploration and production is having a devastating impact on American families and small businesses, and in Louisiana, these policies have the added impact of depriving our state of critical coastal restoration funding. House Republicans are committed to stopping President Biden and Speaker Pelosi’s radical agenda and fighting for common-sense energy policies that will utilize our abundant resources to lower prices at the pump, protect our domestic energy production and national security, and create more jobs here at home.”
