Trump admin's first oil and gas-lease sales nets nearly $40 million for U.S. coffers
The Interior Department announced Thursday that in the first three months of 2025, the federal government brought in nearly $40 million in revenue from oil and gas lease sales on public land.
The development proves the worth of President Donald Trump's vision to unleash American energy dominance, a top official said.
"This quarter's lease sales demonstrate Interior's unwavering commitment to fostering American Energy Dominance, and we are grateful to those who produce energy on federal lands," Interior Secretary Doug Burgum said in a statement.
"By building on the commonsense, pro-growth policies of the Trump administration, we're ensuring public lands are being used to their fullest potential to support national security, economic strength and livelihood of the American people."
The Bureau of Land Management (BLM), which falls under Burgum's auspices, leased 34 land parcels for fossil fuel development since January.
Those 25,038 acres brought in $39,007,609 in total receipts.
The revenues will be divided between the feds and each particular state where the leases were sold.
States receiving the windfalls include Montana, North Dakota, New Mexico, Wyoming and Nevada.
The Interior Department said in a statement that the sales were in concert with Trump's Executive Order 14154: "Unleashing American Energy."
The department assured that the various parcels will be developed in alignment with the National Environmental Policy Act of 1969 – an environmental quality and impact law spearheaded by former Sen. Scoop Jackson, D-Wash.
The leases have a one-decade lifespan and "as long thereafter as there is production of oil and gas in paying quantities."
The feds will are also entitled to a 16.67% royalty.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
Atlanta dad's car now worth $30K — but he still owes $57K. Why Ramsey Show hosts say he's got to take a ‘bath'
Terrence from Atlanta has a budget problem, and he knows it. The Georgia father recently called in to The Ramsey Show seeking advice on how to get rid of his car, a 2021 Kia Stinger GT2 that costs him $1,200 a month. He also pays $2,000 in child support every month — a financial burden that leaves him with little breathing room despite earning a six-figure salary. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'I make $10,000 a month,' Terrence told co-hosts Ken Coleman and Dr. John Delony. 'I bring home $5,200 after taxes and child support.' Terrence bought the Stinger for about $60,000 — rolling in negative equity from a previous vehicle. Two years later and he still owes $57,000, but the car is now only worth about $30,000. 'Oh boy, that's a bath!' Coleman exclaimed. 'That is a bat right there.' Terrence's situation isn't rare. Unfortunately, many Americans find themselves 'car poor' — trapped by high monthly payments, inflated prices and interest rates that stretch already-thin budgets. According to CarEdge, the average price of a new car in the U.S. hovers around $48,699. Meanwhile, Experian reports the average monthly car payment for new vehicles sits at $742 as of Q4 2024. Interest rates on auto loans are also elevated, with new car buyers paying an average of 7.1% in Q1 2025, according to USA Today. All of this has led to Americans accumulating $1.64 trillion in auto loan debt as of Q1 2025, according to Trade Economics. Those numbers don't even factor in insurance, gas or maintenance costs. And with 20% of new car buyers now paying over $1,000 a month, Terrence is among a growing cohort of American drivers underwater on their loans. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Terrence's question for the co-hosts was simple: what's the fastest, least painful way out of this situation? In order to give the co-hosts a complete picture of his finances, Terrence said he typically has between $1,300 and $1,400 remaining every month after paying his child support and other expenses. The co-hosts offered Terrence two potential escape routes. One option is to aggressively pay off the car over a long period of time by throwing $3,000 a month at the debt. However, that route might include some extreme budgeting and maybe even a few overtime shifts for Terrence. "If you take that $1,200 a month [car] payment, you take that $1,300 extra and you go through your budget with a magnifying glass. You stop going out for a season, and let's say you can scrounge up $3,000 [per month] that includes this $1,200. You can pay this thing off,' Deloney said. The other route calls for Terrence to sell the car now for around $30,000 and buy a reliable used vehicle — like a high-mileage Toyota or a Buick, which Terrence once owned and loved — for about $7,500, and then pay off a big chunk of the auto loan balance with the roughly $22,000 remaining from the sale of the car. This would leave Terrence with roughly $35,000 left on the auto loan, which means he wouldn't be out of the woods just yet. Either way, Terrence is going to have to pull himself up by his boot straps and create a frugal budget in order to get out of this financial hole. Ultimately, the co-hosts applauded Terrence's honesty and determination to change course. 'I've got a daughter who's about to go to college, so I want to have the money," Terrence said. Coleman and Delony's final piece of advice? Ditch the debt, drive a modest car and stay focused on long-term goals. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Boston Globe
9 minutes ago
- Boston Globe
Is Trump's troop deployment in LA a prelude to martial law?
Neither did Hegseth announced that National Guard members and the Marines will stay in Los Angeles for Get The Gavel A weekly SCOTUS explainer newsletter by columnist Kimberly Atkins Stohr. Enter Email Sign Up At a Advertisement This is a Trump made-for-TV spectacle of authoritarianism disguised as law and order. It's likely a prelude to martial law. Rob Bonta, California's attorney general, is Advertisement Protests were sparked last week after Immigration and Customs Enforcement officials conducted several workplace raids in Los Angeles, including a But what began as boisterous but peaceful protests against Trump's anti-immigrant scheme which now demands 'If I didn't ''SEND IN THE TROOPS,'" Trump said Tuesday on social media, Los Angeles 'would be burning to the ground right now,' before he disparaged Bass and Newsom. Yes, there has been looting, and some cars have been burned and vandalized. But Trump is lying about the extent of lawlessness. Trump is following his bad policies with even worse provocations that could portend a modern-day Kent State tragedy with soldiers firing live bullets at protesters. But for Trump, the more chaos, the better. As a White House official said, 'We're happy to have this fight.' To some extent this fight to suppress dissent has been boiling in Trump for five years. During nationwide demonstrations after the police murder of George Floyd in 2020, Trump, then in his first term, asked members of his Cabinet whether protesters could be shot. 'He thought that the protests made the country look weak, made us look weak, and 'us' meant him,' Mark Esper, Trump's former defense secretary, Advertisement Esper recalled Trump saying to now-retired General Mark Milley, then chairman of the Joint Chiefs of Staff, ''Can't you just shoot them, just shoot them in the legs or something?' … It was a suggestion and a formal question. And we were just all taken aback at that moment as this issue just hung very heavily in the air.' Ultimately, Trump was talked out of it. That won't happen this time, with an administration packed with people whose only loyalty is to him, not to the Constitution or rule of law. After Tom Homan, Trump's bloviating border czar, If not for the ICE arrest of But not now. Everything in Trump's second administration is designed to codify his authoritarianism. If Trump can convince enough people, especially among his white base, that he alone represents the thin orange line between civilization — as Advertisement Right now, the administration claims the military is in Los Angeles to protect federal buildings and assets — theoretically. Trump has not invoked the Insurrection Act, but neither has he ruled out unleashing US troops on protesters. With his draconian policies, Trump has lit the fuse for what could be a long and difficult summer of protests. With an occupying military force in this nation's second largest city, he has declared war against America itself. Renée Graham is a Globe columnist. She can be reached at
Boston Globe
9 minutes ago
- Boston Globe
US imposes sanctions on a Palestinian NGO and other charities, accusing them ties to militant groups
The federal government claims that Addameer 'has long supported and is affiliated' with the Popular Front for the Liberation of Palestine, a secular, left-wing movement with a political party and an armed wing that has carried out deadly attacks against Israelis. Israel and the United States have labeled the PFLP a terrorist organization. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Addameer did not immediately have a comment on the sanctions. Advertisement Israel has alleged that Addameer funds terrorism, a claim that the United Nations previously said it could not support with compelling evidence. In a 2022 The organization also works with Amnesty International, Human Rights Watch and is a member of the World Organization Against Torture. Israel's 2022 storming of Addameer's offices, prompted a rebuke from the UN, who said in a statement that Israel had not provided convincing evidence to support the claim. The UN said Addameer was conducting 'critical human rights, humanitarian and development work in the Occupied Palestinian Territory.' Advertisement In February, Zachor Legal Institute, an Israeli-American advocacy group that says it focuses on combatting antisemitism and terrorism, requested Addameer be added to Treasury's sanctions list. Marc Greendorfer, president of Zachor Legal Institute said in an email to the Associated Press that his group is 'very pleased to see Treasury following up on our request.' He said the federal government should act 'to prevent hostile foreign actors from spreading hate and violence in the United States. We applaud Treasury's action and encourage Treasury to expand its focus to the other groups that we identified.' Other entities hit with sanctions Tuesday include: The Gaza-based charity Al Weam Charitable Society and its leader The Turkish charity Filistin Vakfi and its leader El Baraka Association for Charitable and Humanitarian Work and its leader The Netherlands-based Israa Charitable Foundation Netherlands and two employees The Italy-based Associazione Benefica La Cupola d'Oro A Because the majority of crowdfunding activity is legitimate, 'this status can make it more difficult for law enforcement attempting to investigate potential (terrorist financing) cases with a crowdfunding and online fundraising nexus,' the report said. Frankel reported from Jerusalem.
