The Department of the Interior found a significant increase in oil and gas reserves in the Gulf of America Outer Continental Shelf.
The department will no longer require an environmental impact statement for approximately 3,244 oil and gas leases in seven Western states.”
Recent analysis reveals an additional 1.3 billion barrels of oil equivalent, bringing the total reserve estimate to 7.04 billion barrels of oil equivalent, according to an April 10 statement from the department.
The total reserve estimate includes 5.77 billion barrels of oil and 7.15 trillion cubic feet of natural gas—a 22.6 percent increase in remaining recoverable reserves.
“This new data confirms what we’ve known all along—America is sitting on a treasure trove of energy, and under President [Donald] Trump’s leadership, we’re unlocking it,” Secretary of the Interior Doug Burgum said.
“The Gulf of America is a powerhouse, and by streamlining permitting and expanding access, we’re not just powering our economy—we’re strengthening our national security and putting thousands of Americans back to work.”
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