Support Offshore Exploration and Production in the Gulf of Mexico
We are calling on the White House to act on U.S. offshore exploration and production. This sector provides energy for American consumers, supports jobs for over 300,000 workers, and generates billions of dollars in tax and royalty revenue. It is a crucial asset for our national security and prosperity.
Unfortunately, the Biden administration has allowed the plan for federal offshore leasing to expire and is considering a new program that includes no offshore leasing over the next 5 years. This is having a chilling effect on new investments in the Gulf of Mexico and could lead to a decrease in production and revenue for the country.
Since the Biden Administration allowed the 5 year program to expire
A recent study conducted by the American Petroleum Institute found a delay in the Offshore Leasing Program could result in a loss of nearly 500,000 barrels per day of production until 2040. This would also result in an average annual loss of $1.5 billion in government revenue that could be used for public education, infrastructure, conservation projects, coastal restoration, and hurricane protection programs.
U.S. oil and natural gas produced in the Gulf of Mexico is among the lowest carbon-intensive barrels produced in the world. A decrease in offshore production could result in increased foreign imports and an increase in overall GHG emissions.
We need the Biden Administration to recognize the importance of offshore exploration and production by issuing a new 5-year program and streamlining permitting guidance. This would not only help meet the growing demand for affordable and reliable energy but also support the country’s economy and national security.
Help us support offshore exploration by sending a letter to the White House today!