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1 1 (February 11, 2021)

handle is hein.crs/govecee0001 and id is 1 raw text is: Congressional *.Research Service Offshore Oil and Gas Leasing: President Biden's Pause February 11, 2021 On January 27, 2020, President Biden issued Executive Order (E. O.) 14008, directing multiple administrative actions to address climate change. Section 208 of the order directed the Secretay of the Interior to pause new oil and natural gas leases on public lands or in offshore waters pending completion of a comprehensive review and reconsideration of Federal oil and gas permitting and leasing practices.... The E.O. stated that this review must evaluate potential climate and other impacts associated with oil and gas leasing, as well as whether to adjust royalties paid to the federal government from onshore and offshore oil and gas production to account for climate costs. The required pause and review must be consistent with applicable law. This CRS product briefly examines potential effects of the E. 0. on federal offshore oil and gas leasing activities on the U.S. outer continental shelf. The E. 0. could have both short-term and longer-term effects on these activities, depending partly on the duration of the leasing pause and on any changes to the offshore oil and gas leasing program as a result of the required review. The agencies responsible for leasing in federal waters-the Department of the Interior's Bureau of Ocean Energy Management (BOEM) and Bureau of Safety and Environmental Enforcement (BSEE)-thus far have altered some activities based on the E. O. and kept others as before. The climate change effects of the pause and of any resulting changes to offshore oil and gas activities are beyond the scope of this CRS product. Offshore Oil and Gas Lease Sales BOEM schedules offshore oil and gas lease sales through five-year leasing programs. The current program includes three sales scheduled for 2021-two in the Gulf of Mexico and one in Alaska's Cook Inlet-along with one sale in the Gulf of Mexico in the first half of 2022. On February 4, 2021, BOEM announced it was canceling public meetings and a public comment period related to the Cook Inlet lease sale as a result of the E.O. As of the date of this CRS product, BOEM had not made a public announcement regarding the first Gulf of Mexico lease sale of 2021, scheduled for March. How the review ultimately may affect any paused lease sales is unknown. For example, the review might or might not lead to changes in lease terms such as rental and royalty rates for these sales going forward, or the sales could be canceled. BOEM has discretion to regulate lease terms under the Outer Continental Congressional Research Service https://crsreports.congress.gov IN11601 CRS INSIGHT Prepared for Membersand Committeesof Congress

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