BATON ROUGE, LA (September 14, 2022) - In compliance with the Inflation Reduction Act, the Bureau of Energy Management (BOEM) announced today that the 307 highest value bids from Lease Sale 257 held in November of 2021 would be reinstated, totaling $189,888,271. The bids had been invalidated by a federal judge earlier this year.
In response Louisiana Oil & Gas Association President Mike Moncla issued the following statement:
“This has been a long time coming. On behalf of the Louisiana Oil & Gas Association, I want to thank Attorney General Jeff Landry for his strong, capable leadership that helped make this lease sale possible.
While the oil and gas industry focuses on creating jobs and fostering economic investment in Louisiana, President Biden and the Democrats continue to promote harmful regulations that hurt American families.
The President fought as hard as he could to stop this sale from happening. But through the work of Jeff Landry, justice has prevailed.
This lease sale is an important victory, not only for the 250,000+ oil and gas workers in the state but for every American who is facing high energy costs as a result of our diminished oil and gas supply.
We look forward to working with Attorney General Landry as we continue our opposition to the Biden administration’s failed energy policies that have hindered our true potential as the energy powerhouse of the world.”