The January 2022 post about a 5 year leasing plan with no lease sales would have been reality were it not for the congressional mandate in Section 50265(b)(2) of the IRA. That provision requires BOEM to offer at least 60 million OCS acres for oil and gas leasing within the 12 months prior to issuing an offshore wind lease. While I initially thought that requirement was petty, it is now apparent that without it we would have had a leasing plan with no lease sales.
The current leasing policy as articulated in both the draft and final proposed program is to phase out oil and gas production:
The long-term nature of OCS oil and gas development, such that production on a lease may not begin for a decade or more after lease issuance and can continue for decades, makes consideration of
p. 6, Five Year Leasing Plan
net-zero pathways relevant to the Secretary’s determinations on how the National OCS Program best meets the Nation’s energy needs.
Basing leasing decisions on highly uncertain “net-zero pathways” would seem to be a considerable stretch of the Secretary’s authority under the OCS Lands Act. A strategic shutdown of the offshore oil and gas program, which would dramatically increase energy supply and security risks going forward, should be authorized by Congress. Even the threat of such a shutdown could have major economic implications.
Bud's Offshore Energy (BOE) 