Interior Secretary Doug Burgum, left, President Trump, right (Getty)
Burgum told Fox News Digital that the rule revision will "enable our nation’s energy producers to redirect their capital toward future leasing, exploration, and production all while financially protecting the American taxpayer."
"Cutting red tape will level the playing field and allow American companies to make investments that strengthen domestic energy security and benefit Gulf of America states and their communities," he said.
BOEM will continue to require lessees on the outer continental shelf to provide financial assurances, while the Trump administration writ large works toward more balanced regulations, the department said in an exclusive statement.
During Burgum’s visit to the Gulf, he met with energy workers at the LNG facility and discussed how the department under his leadership wants to better support the industry.
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The Gulf of America currently produces approximately 1.8 million barrels of crude oil daily, and 2 billion cubic feet of natural gas per day.
Charles Creitz is a reporter for Fox News Digital.
He joined Fox News in 2013 as a writer and production assistant.
Charles covers media, politics and culture for Fox News Digital.
Charles is a Pennsylvania native and graduated from Temple University with a B.A. in Broadcast Journalism. Story tips can be sent to charles.creitz@fox.com.
https://www.foxnews.com/politics/doug-burgum-unveils-major-deregulatory-shift-boost-gulf-oil-gas-production