Washington, D.C. – U.S. Interior Secretary Doug Burgum says companies can now compete for energy leases to develop resources in the Gulf of America.
The former North Dakota governor say the first-of-its kind sale will also come with royalty fees, which will be included in leases for any mineral development
Burgum says the fees will in turn help drive down federal debt.
“15% of U.S. oil production comes from the Gulf of America,” Burgum said during the announcement on Fox and Friends. “The Biden administration was effectively trying to drive that toward zero by shutting down leasing.”
Burgum says the Trump administration is “trying to make sure that we keep that [production] going because it’s an important part of America’s energy strategy.”
