The legislation would direct the Secretary of the Interior (DOI) to implement an oil and gas leasing program for the coastal plain of the Arctic National Wildlife Refuge (ANWR). It also would authorize DOI to spend $300 million from proceeds from oil and gas leasing on the Outer Continental Shelf (OCS) over the 2018-2027 period. Finally, the legislation would direct the Department of Energy (DOE) to sell a portion of the petroleum stored in the Strategic Petroleum Reserve (SPR). On the basis of information provided by DOI, DOE, and individuals working in the oil and gas industry, CBO estimates that implementing the legislation would increase net offsetting receipts, which are treated as reductions in direct spending, by about $1.1 billion over the 2018-2027 period.
Because enacting the legislation would affect direct spending pay-as-you-go procedures apply. Enacting the legislation would not affect revenues.
CBO estimates that enacting legislation would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
The legislation contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA).