Trump's Gulf Oil Sale: Low Royalties, High Stakes
Update: 2025-12-10
Description
The Trump administrations first offshore drilling rights auction in the Gulf of Mexico since 2023 is set for this Wednesday, marking a significant test for the industrys interest in domestic fossil fuel production. With thirty auctions required by the new tax cut and spending bill, the event offers over 81 million acres at a 12.5% royalty rate, the lowest allowed under Trumps new law. The bids will be announced live, with all eyes on the energy companies interest, following the 2023 sale that received 352 bids and brought in $382 million.
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