H.R. 4899 would expand the production of domestic energy resources.
By increasing oil and natural gas drilling offshore, on publicly owned land, and in coastal regions, H.R. 4899 promises to open up "at least 50 percent" of the areas determined to have the most oil and gas resources for 5-year leases.
Those leases would then be bid on via Internet auctions. Areas off the coasts of Virginia, South Carolina, the Gulf states, and southern California are named specifically.
This bill would also phase in a new revenue sharing formula for
coastal states to grant them a 37.5 percent portion of the
revenues received by the U.S. This would divide the revenues to states based on their proximity to a leased track within 200 miles.
H.R. 4899 would ban the Bureau of Ocean Energy from creating
or enforcing any limitations on coastal and
marine spatial planning.