H.R. 3407 would direct the Secretary of the Interior to implement an oil and gas leasing program for lands located within the coastal plain of ANWR, which includes about 1.5 million acres of federal land on the northeast coast of Alaska. Because, under current law, activities related to oil and gas leasing in ANWR are prohibited, CBO estimates that implementing the bill would increase net offsetting receipts (a credit against direct spending) by about $2.5 billion over the 2014-2022 period.
The bill would require the Secretary to hold 8 lease sales over a 6-year period and to offer at least 50,000 acres of land in ANWR for lease at each sale.
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