Sec. 602. Internet-based onshore oil and gas lease sales
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Section 17(b)(1) of the Mineral Leasing Act ( 30 U.S.C. 226(b)(1) ) is amended— in subparagraph (A), in the third sentence, by striking Lease sales and inserting Except as provided in subparagraph (C), lease sales ; and by adding at the end the following: In order to diversify and expand the United States onshore leasing program to ensure the best return to Federal taxpayers, to reduce fraud, and to secure the leasing process, the Secretary may conduct onshore lease sales through Internet-based bidding methods, each of which shall be completed by not later than 7 days after the date of initiation of the sale. .
Not later than 90 days after the tenth Internet-based lease sale conducted pursuant to subparagraph
(C)of section 17(b)(1) of the Mineral Leasing Act (30 U.S.C. 226(b)(1)) (as added by subsection (a)), the Secretary of the Interior shall conduct, and submit to Congress a report describing the results of, an analysis of the first 10 such lease sales, including— estimates of increases or decreases in the lease sales, as compared to sales conducted by oral bidding, in— the number of bidders; the average amount of the bids; the highest amount of the bids; and the lowest amount of the bids; an estimate on the total cost or savings to the Department of the Interior as a result of the sales, as compared to sales conducted by oral bidding; and an evaluation of the demonstrated or expected effectiveness of different structures for lease sales, which may— provide an opportunity to better maximize bidder participation; ensure the highest return to Federal taxpayers; minimize opportunities for fraud or collusion; and ensure the security and integrity of the leasing process.
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Sec. 602
Internet-based onshore oil and gas lease sales
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