The United States Secretary of the Interior, Doug Burgum, has announced the first oil leases in the newly renamed Gulf of America.
Burgum made the disclosure in a statement on Friday during an interview with Fox News.
According to him, the move forms part of the strategy to advance the United States’ energy vision under President Donald Trump’s administration.
He added that the lease permits a private sector company to commence operations, with royalties accruing to the federal government—funds which, he stated, would be directed towards reducing national debt.
“Fifteen per cent of U.S. oil production comes from the Gulf of America. The Biden administration was effectively trying to drive that towards zero by shutting down leasing,”; Burgum said.
Recall that the Trump administration on 25 January 2025.
The name, Gulf of America, subsequently on 11 February 2025.
