Steve Muehler's Plan for Open Access to Drilling
Updated: Apr 23
An abundance of untapped energy lies beneath America’s ground and off the coasts. The United States is the only country in the world that has placed a majority of its territorial waters off-limits to oil exploration. Furthermore, production on federal lands is decreasing while production on private and state-owned lands is skyrocketing.
Under my Administration, we would lift the ban on exploration in the eastern Gulf of Mexico and the Atlantic and Pacific coasts, and will conduct more lease sales off Alaska’s coasts. We will also look to expand oil production is Alaska’s Arctic National Wildlife Refuge (ANWR), where an estimated 10.4 billion barrels of oil lie beneath a few thousand acres that can be accessed with minimal environmental impact.
My Administration will require the Secretary of the Interior to conduct lease sales if a commercial interest exists to explore and drill, and we will look at providing the funding, if necessary, for the federal government to hire personnel to conduct new lease sales after opening America’s territorial waters and currently blocked onshore areas.
Federal and state governments will stand to benefit as well since increased production would increase revenues from bonus bids (for new leases), royalties, rents, and increased economic activity. States receive 50 percent of the revenues generated by onshore oil and natural gas production on federal lands and my Administration will apply this allocation offshore as well.
Drilling off states’ coasts and allowing them a larger share of the royalty revenue will encourage more state involvement in drilling decisions. Offshore drilling will promote state and local government participation in allocating funds as well, whether closing a state’s deficit or coastal restoration and conservation.
Open access to energy exploration and development on non-park, non-wilderness lands, and remove bans on drilling off America’s territorial waters saves the United States an estimated $5.7 BILLION USD over 10 years.
Steve Muehler is the Founder & Managing Member of the Private Placement Markets:
Private Placement Markets: www.PPMSecurities.com
Private Placement Debt Markets: www.PPMDebt.com
Private Placement Equity Markets: www.PPMEquity.com
Private Placement Markets – Real Estate Loans: www.PPMLoans.com
Equity Lock Residential: www.EquityLockResidential.com
Equity Lock Commercial: www.EquityLockCommercial.com
About Mr. Steve Muehler, Founder & Senior Managing Member:
Personal Site: http://www.SteveMuehler.com
Personal Site: www.StevenMuehler.com