Posted on March 13, 2024
Today, the Biden-Harris administration unveiled the President’s Budget for Fiscal Year 2025, outlining crucial funding allocations to advance the Bureau of Ocean Energy Management’s (BOEM) mission and drive action on key climate priorities. Using the best available science and practices in the decision-making process, the Administration seeks to align the management of America’s offshore energy, mineral, and geological resources with our Nation’s climate, conservation, and clean energy goals.
The FY 2025 President’s Budget allocates $242 million to BOEM, supporting the Bureau’s commitment to overseeing the nation’s offshore energy, mineral, and geological resources through proper environmental and economic stewardship. These strategic investments supporting the American people aim to establish a foundation for sustained growth and prosperity for future generations.
“The 2025 Budget empowers BOEM to fulfill our mission and advance the administration’s ambitious climate agenda while creating high-quality job opportunities, advancing economic prosperity, and reinforcing energy security,” said BOEM Director Elizabeth Klein. “It ensures our capacity to oversee offshore energy development responsibly, while prioritizing the well-being of the American people.”
Renewable Energy. The FY 2025 Budget includes $52 million for BOEM’s Renewable Energy Program, which supports the Biden-Harris administration’s goals of deploying 30 gigawatts (GW) of offshore wind energy capacity by 2030 and 15 GW of floating offshore wind capacity by 2035. As a champion of the Biden-Harris administration’s all-of-government approach, BOEM will continue to partner with the multiple levels of government, Tribal Nations, and governors of U.S. Territories to expand responsible offshore wind energy development.
Conventional Energy. The FY 2025 Budget includes $67.5 million for BOEM’s Conventional Energy Program. With the Secretary’s approval of the 2024-2029 National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) in FY 2024, BOEM is positioned to continue to support U.S. energy security and meet its statutory obligations under the OCS Lands Act. BOEM conducts its Conventional Energy Program in a manner that delivers a fair return for the American taxpayer, mitigates and addresses adverse environmental impacts, and accounts for the social costs of greenhouse gas emissions. The FY 2025 Budget request will ensure the continued effective implementation of the 2024-2029 National OCS Program, the advancement of new carbon sequestration regulations, and robust environmental analyses.
Marine Minerals. The FY 2025 Budget includes $14.8 million for BOEM’s Marine Minerals Program. BOEM’s marine minerals activities help ensure the responsible management of the Nation’s OCS mineral resources to enhance natural disaster preparedness, protect shorelines, and assess the availability of critical minerals. BOEM’s FY 2025 Budget request supports the crucial effort to increase public understanding of marine minerals to inform better management of OCS mineral resources, address environmental harms due to climate change, and avoid potential multiple-use conflicts and impacts. BOEM will build on its existing OCS mineral resource management efforts through continued expansion and improvement of its National Offshore Sand Inventory, Marine Minerals Information System, and National Offshore Critical Mineral Inventory.
Environmental Programs. The FY 2025 Budget proposal includes $86.7 million for BOEM’s Environmental Programs. BOEM’s Environmental Programs provide a foundation of support to the Bureau by ensuring that programmatic decision-making is guided by the best available environmental research and data to inform the public, stakeholders, diverse ocean users, and external decision-makers about the potential impacts of OCS energy and mineral activities. This work enables BOEM to identify risks and mitigation strategies to assist with conservation and protection of environmental and cultural resources. BOEM will also work to promote equity in BOEM’s decision-making processes through ongoing engagement with Tribal Nations and Indigenous communities, underserved communities, and communities with environmental justice concerns to incorporate their feedback in both addressing impacts and delivering benefits.
For more information on the President’s FY 2025 budget, please visit the White House’s Budget webpage.
Additional details on the Department of Interior’s FY 2025 budget proposal are available on the Department’s Budget webpage.
— BOEM —
The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) manages development of U.S. Outer Continental Shelf (OCS) energy, mineral, and geological resources in an environmentally and economically responsible way.
