WASHINGTON, D.C. – Sen. John Kennedy (R-La.) announced October 24 that the largest oil and gas lease sale in U.S. history is scheduled to be livestreamed from New Orleans in March. Proposed Lease Sale 250 encompasses 76,967,935 acres of waters, including blocks off Louisiana, Texas, Mississippi, Alabama and Florida.
“This is great news. This is exactly the type of job-creating activity that the oil and gas industry needs,” said Sen. Kennedy. “This lease sale is an economic bonanza for Louisiana and makes us less dependent on foreign oil. The last lease sale generated $121 million in high bids. That translates into countless jobs, especially for Acadiana. Our oil and gas families want to work. They just need the jobs.”
“In today’s low-price energy environment, providing the offshore industry access to the maximum amount of opportunities possible is part of our strategy to spur local and regional economic dynamism and job creation and a pillar of President Trump’s plan to make the United States energy dominant,” U.S. Secretary of the Interior Ryan Zinke said. “And the economic terms proposed for this sale include a range of incentives to encourage diligent development and ensure a fair return to taxpayers.”
President Trump and his administration are following through on their promise to end the war on American energy,” said Senator Bill Cassidy (R-La). “Investing in energy creates better jobs with better benefits for working families, strengthens our national security and strengthens our energy independence.”