FOR IMMEDIATE RELEASE
October 7, 2021
DENVER—Today, U.S. Senator John Hickenlooper of Colorado introduced the Competitive Onshore Mineral Policy via Eliminating Taxpayer-Enabled Speculation Act (COMPETES Act). The bill is designed to end the wasteful practice of noncompetitive oil and gas leasing on our public lands, through which speculators scoop up public lands for just $1.50/acre.
The U.S. Government Accountability Office found that 99% of noncompetitive leases are never developed, making the program a waste of taxpayer resources. Noncompetitive oil and gas leases also lock up valuable public lands—that could otherwise be used to support local outdoor recreation economies or serve as critical wildlife habitat—with minimal benefit, undermining the Bureau of Land Management’s multiple-use mandate. The COMPETES Act, cosponsored by U.S. Senator Martin Heinrich (NM), would close this loophole and create a more efficient leasing system.
The Center for Western Priorities released the following statement from Executive Director Jennifer Rokala:
“The system for oil leasing on our public lands is full of century-old loopholes that rip off taxpayers while locking up valuable lands owned by all Americans. Noncompetitive leasing is just one example of the ways in which the federal oil and gas program is broken and in desperate need of reform.
“As the climate crisis impacts communities around the West with wildfires and extreme drought, we shouldn’t be handing out swaths of public lands to oil and gas companies for pennies on the dollar. Instead, drilling on public lands should be done thoughtfully and intentionally through a fair and transparent competitive process. This commonsense bill would help do just that.
“As the Congressional budget reconciliation process continues, eliminating noncompetitive leasing and incorporating other oil and gas reforms—which carry huge financial benefits for taxpayers—must be a priority.”
LEARN MORE:
- Public Lands Giveaway: Oil and gas companies are taking advantage of the broken oil and gas leasing system [Center for Western Priorities]
- Despite oil industry howling, companies are awash in public lands drilling permits [Westwise]
- Analysis finds noncompetitively leased public lands bring in significantly lower revenues that competitive leases [Government Accountability Office]