POLITICO Energy Trump’s latest oil lease sale made $58 Million. U.S. oil production is still wavering.
Jul 28, 2025
The recent $58 million oil lease sale in New Mexico’s Permian Basin is a key victory for the Trump administration’s energy policy. However, concerns loom over a potential decline in U.S. oil production, influenced by trade policies and OPEC. The discussion also highlights a new bipartisan effort in Congress to streamline energy project approvals, which could reshape the landscape of energy development in the country. Will these moves fortify or hinder the administration’s lofty energy goals?
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New Mexico Lease Sale Success
- The recent New Mexico oil lease sale raised $58 million by offering prime Permian Basin land.
- Reduced royalty rates after a GOP bill helped attract companies despite only minor cost cuts.
U.S. Oil Production Wavering
- Despite promoting energy dominance, U.S. oil production has declined slightly since an April peak.
- Tariffs and OPEC production increases hamper growth by raising costs and lowering global prices.
Bipartisan Permitting Reform Push
- Expect bipartisan efforts this fall to accelerate permitting for energy and infrastructure projects.
- Such reforms aim to streamline federal environmental reviews under NEPA.