Obama budget proposal for BOEM adds funding for reforms, risk management

US President Barack Obama’s fiscal year 2016 budget proposal includes a request of $170.9 million to fund the Bureau of Ocean Energy Management (BOEM).

Feb 5th, 2015

Offshore staff

WASHINGTON, D.C. –US President Barack Obama’s fiscal year 2016 budget proposal includes a request of $170.9 million to fund the Bureau of Ocean Energy Management (BOEM).

This is separate from the administration’s request of $204.7 million to fund theBureau of Safety and Environmental Enforcement (BSEE).

The BOEM manages oil and gas development, renewable energy, and mineral resources on the US outer continental shelf.

BOEM says the budget request focuses on program responsibilities, such as the Five Year Outer Continental Shelf Oil and Gas Program, oil and gas exploration and development plans, offshore renewable energy, and environmental analysis and studies. The budget includes $2.5 million in additional funding for the BOEM’s risk management program.

The proposal also includes a package of “legislative and administrative reforms to bolster and backstop administrative actions being taken to reform the management of Interior’s onshore and offshore oil and gas programs, with a key focus on improving returns to taxpayers from the sale of these federal resources and on improving transparency and oversight.”

02/05/2015

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