On the recordMay 1, 2024
I just have to take issue with this issue about lackluster sales or lackluster lease sales. I note that the first ANWR lease sale was held in early 2021 during the throes of the COVID pandemic when oil prices were historically low, and the argument is that the administration projected, the Trump administration projected $1.8 billion from ANWR lease sales over 10 years, and my friends are arguing they only made less than 1 percent of those initial projections. They are not telling, as Paul Harvey would say, the rest of the story. This one sale was held after the election of President Biden who said on the campaign trail that he would end oil and gas production on Federal lands. I have to point out to my friends that revenue comes from oil and gas royalties based on production, not leasing. Mr. Speaker, I reserve the balance of my time.
