Trump Administration Boosts Fossil Fuel Production
Update: 2025-11-08
Description
Trump Administration Announces New Drilling Auctions in U.S. Gulf of Mexico and AlaskaThe Trump administration has unveiled plans for a new oil and gas drilling auction in the U.S. Gulf of Mexico, set for next month, as part of a broader strategy to bolster domestic fossil fuel production. Additionally, a drilling auction in a southern Alaska waterway is proposed, aligning with President Trumps policy of maximizing oil, gas, and coal output while reducing regulations and subsidies for renewable energy. The Bureau of Ocean Energy Management (BOEM) has set a royalty rate of 12.5% for both shallow and deepwater leases in both regions, the lowest allowed by law, to encourage industry participation. This move underscores the administrations commitment to expanding fossil fuel exploration and production, aiming to stimulate economic activity and secure domestic energy supplies.
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