The bill requires at least four oil and natural gas lease sales every year in Wyoming, New Mexico, Colorado, Utah, Montana, North Dakota, Oklahoma, Nevada, and any other state with eligible federal land. If any sale is canceled or delayed, the Interior Department must hold a replacement sale in the same calendar year.
For offshore drilling, the bill mandates at least two large lease sales per year in the Gulf of Mexico from fiscal year 2026 through 2035, and at least six lease sales over 10 years in Alaska's Cook Inlet, each offering at least one million acres.
From policy text
“the Secretary shall conduct a minimum of 2 region-wide oil and natural gas lease sales annually in the Gulf of Mexico Region of the outer Continental Shelf”
The bill bars any president from pausing, canceling, delaying, or otherwise blocking federal energy leasing without congressional approval, and creates a legal presumption that any such interference violates the law.
From policy text
“The President shall not, through Executive order or any other administrative procedure, unreasonably pause, cancel, delay, defer, or otherwise impede or circumvent the Federal energy mineral leasing processes”
While expanding drilling elsewhere, the bill extends a moratorium on oil and gas leasing in the Eastern Gulf of Mexico, the South Atlantic, and the Straits of Florida through December 31, 2035, with exceptions for environmental conservation purposes like beach nourishment and wetland restoration.
From policy text
“by striking ``June 30, 2022'' and inserting ``December 31, 2035''”
The bill sets the royalty rate for Alaska Cook Inlet leases at 12.5%, requires leases to be issued within 90 days of receiving acceptable bids, and mandates that the Interior Department begin preparing the next leasing program no later than 36 months after the first sale under the current one.
From policy text
“The royalty rate for each lease issued pursuant to a lease sale conducted under subparagraph (A) shall be 12.5 percent.”
