0
A bill to promote domestic energy production, to require onshore and offshore oil and natural gas lease sales, and for other purposes.
2/7/2025, 11:56 AM
Summary of Bill S 460
The main goal of the bill is to reduce the country's dependence on foreign energy sources by encouraging the development of domestic energy resources. This would not only help to strengthen national security but also create jobs and stimulate economic growth.
Under the provisions of the bill, the government would be required to hold regular lease sales for onshore and offshore oil and natural gas exploration and production. This would make it easier for energy companies to access and develop these resources, ultimately increasing domestic energy production. In addition to promoting energy production, the bill also includes measures to ensure that environmental regulations are followed and that the development of energy resources is done in a responsible manner. This includes provisions for monitoring and mitigating the environmental impact of oil and gas exploration and production activities. Overall, Bill 119 s 460 aims to boost domestic energy production, create jobs, and stimulate economic growth while also ensuring that environmental regulations are followed.
Congressional Summary of S 460
Supporting Made in America Energy Act
This bill requires oil and natural gas lease sales that include certain public land and waters, prohibits lease sales in other areas, and establishes related requirements.
Beginning in FY2025, the Department of the Interior must conduct a minimum of four onshore lease sales annually in each state that has federal land available for oil and natural gas leasing. If a lease sale is canceled, delayed, or deferred, Interior must conduct a replacement sale during the same year.
Beginning in FY2026, Interior must conduct a minimum of two offshore, region-wide lease sales annually in the Gulf of Mexico Region of the Outer Continental Shelf (OCS) by specified dates. The sales must include the Central Gulf of Mexico Planning Area and the Western Gulf of Mexico Planning Area.
Interior must also conduct a minimum of six offshore lease sales of at least 1 million acres each over a 10-year period in the Cook Inlet Planning Area. The bill sets a 12.5% royalty rate for such leases.
Interior must plan and approve the subsequent OCS oil and gas leasing programs by specified deadlines.
The bill extends through 2035 a moratorium on oil and gas leasing in certain eastern and central portions of the Gulf of Mexico and expands the moratorium to include the South Atlantic Planning Area and the Straits of Florida Planning Area.
The bill also requires the President to obtain congressional approval before impeding or circumventing certain federal energy mineral leasing processes.
