US to hold more than 30 offshore oil and gas auctions through 2040
WHY IT'S IMPORTANT
The plan fulfills a directive in Trump's One Big Beautiful Bill Act, which passed last month, and is aligned with his administration's energy dominance agenda to boost domestic fossil fuel production.
The schedule marks a significant departure from former President Joe Biden, whose administration had planned for a historically small number of drilling rights auctions as part of its efforts to address climate change.
KEY QUOTE
"The One Big Beautiful Bill Act is a landmark step toward unleashing America's energy potential," Interior Secretary Doug Burgum said in a statement. "Under President Trump's leadership, we're putting in place a bold, long-term program that strengthens American Energy Dominance, creates good-paying jobs and ensures we continue to responsibly develop our offshore resources."
BY THE NUMBERS
The schedule includes 30 lease sales through 2040 in the Gulf of Mexico, which Trump has renamed the Gulf of America.
The first Gulf sale is set for Dec. 10 of this year. Starting next year, there will be two sales in the Gulf annually through 2039 and one in 2040.
Six lease sales are planned for Alaska's Cook Inlet through 2032. The first will be held in March of 2026.
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