Obama proposes $169.8M budget for BOEM
- Business & Finance
U.S. President Obama’s fiscal year 2015 budget request includes $169.8 million to fund the Bureau of Ocean Energy Management (BOEM).
BOEM is charged with managing the Nation’s offshore energy and mineral resources in a way that promotes efficient and environmentally responsible energy development through oil and gas leasing, renewable energy development, and a commitment to rigorous scientific studies.
“BOEM’s priorities fully support the Administration’s vision for creating growth and opportunities as we pursue our mission. Our modest increase in the President’s request reflects careful analysis of the resources needed to advance renewable and conventional energy, manage non-energy OCS mineral resources and invest in what’s needed to grow the economy,” said BOEM Director Tommy P. Beaudreau.
The budget requests continued funding to fulfill BOEM’s program implementation responsibilities, which include leasing and planning for conventional energy development through implementation of the Five Year Outer Continental Shelf (OCS) Oil and Gas Leasing Program, planning for individual lease sales and conducting post-sale review of companies’ exploration and development plans. BOEM also manages the development of offshore renewable energy resources – including implementation of the Secretary’s “Smart from the Start” initiative to accelerate leasing in offshore wind energy areas off of U.S. coasts.
In support of both its conventional and renewable energy programs, BOEM conducts extensive analysis, including environmental review, resource assessment, and economic analysis. Applied research through BOEM’s Environmental Studies Program supports science-based decision-making.
The budget proposes an increase of $2.9 million above the FY 2014 enacted level and a $3.4 million increase in net appropriations. This includes $2.5 million for a programmatic environmental impact statement (EIS) for the 2017-2022 Five Year Program. The programmatic EIS is mandated by the National Environmental Policy Act and is required by the OCS Lands Act. Development of the EIS involves scoping, development of alternatives, Federal and state agency coordination, public comment, comment analysis and response, as well as final publication.