Finance News

Biden-Harris Administration Proposes Key Program Increases in BOEM’s Budget

The Biden-Harris Administration today submitted to Congress the President’s Budget for fiscal year 2023.

The President’s Budget details his vision to expand on the historic progress our country has made over the last year and deliver the agenda he laid out in his State of the Union address—to build a better America, reduce the deficit, reduce costs for families, and grow the economy from the bottom up and middle out. 

The budget reflects the Biden-Harris Administration’s commitment to ongoing efforts and initiatives vital to BOEM’s mission which support the Administration’s priorities, including tackling climate change, creating good-paying union jobs, advancing energy security, supporting economic prosperity, and ensuring the reliability and affordability of domestic clean energy.

The FY 2023 President’s Budget for BOEM provides $237.4 million in total budget authority to fund the Bureau’s mission to manage the nation’s offshore energy and mineral resources in an environmentally and economically responsible manner.  The Budget makes critical investments in the American people that will help lay a stronger foundation for shared growth and prosperity for generations to come.

"Interior’s FY 2023 budget provides needed resources to ensure BOEM is equipped to deliver on its mission on behalf of the American public and to achieve the ambitious Biden-Harris administration’s priorities to fight climate change and create good paying jobs,” said BOEM Director Amanda Lefton. “The increase in BOEM’s funding will help us to advance offshore energy and marine minerals development in a manner that considers environmental stewardship and values public engagement during all phases of planning and development."

Renewable Energy. The FY 2023 budget includes $51.7 million for BOEM’s Renewable Energy Program. BOEM has made considerable strides toward accomplishing the Biden-Harris Administration’s goal of achieving the deployment of 30 gigawatts (GW) of offshore wind energy capacity by 2030. BOEM has demonstrated an all-of-government approach in fostering offshore wind production by collaborating with multiple government agencies, consulting with Tribal nations, and signing an extensive interagency agreement with the National Oceanic and Atmospheric Administration (NOAA). BOEM seeks to administer an efficient review process and an inclusive, expeditious process to identify areas that are most appropriate for future leasing. Expanding upon this work, BOEM plans to issue nine environmental reviews of offshore wind projects in FY 2023 and to hold up to three lease sales in FY 2022 and up to two lease sales in FY 2023. 

Conventional Energy. The FY 2023 budget includes $63.6 million for BOEM’s Conventional Energy Program. BOEM continues to support U.S. energy security and meet its statutory obligations under the Outer Continental Shelf (OCS) Lands Act by administering existing leases, permitting geological and geophysical surveys, evaluating resources, and developing the next National OCS Oil and Gas Leasing Program. In meeting these obligations, BOEM also ensures it delivers fair returns for the American taxpayer; actively involves Tribal Nations and other ocean users to promote environmental justice in underserved communities that may experience adverse impacts from development; and addresses the challenges posed by climate change. In the coming fiscal year, BOEM will continue its work to implement recommended reforms identified in the Department of the Interior’s November 2021 Report on the Federal Oil and Gas Leasing Program, including the continued advancement of a rulemaking to ensure that companies provide adequate financial assurances to cover the cost of decommissioning offshore wells and facilities.

Marine Minerals. The FY 2023 budget includes $15.4 million for BOEM’s Marine Minerals Program. BOEM will continue to engage with stakeholders and State and local governments to facilitate the procurement of sand and sediment resources for coastal restoration and beach nourishment. The FY 2023 BOEM budget underscores the importance of increasing understanding of marine minerals to inform the management of OCS mineral resources, address environmental harms due to climate change, and avoid potential multiple-use conflicts and impacts by advancing the development of the National Offshore Sand Inventory, Marine Minerals Information System, and National Offshore Critical Mineral Inventory.

Environmental Programs. The FY 2023 budget includes $86.4 million for BOEM’s Environmental Programs. Responsible environmental stewardship remains at the center of each activity BOEM undertakes. BOEM’s Environmental Programs aim to inform the public, stakeholders, diverse ocean users, and external decision-makers about the potential impacts of OCS energy and mineral activities through transparent environmental analyses that identify risks and mitigation strategies to assist with ensuring environmental protection. During FY 2023, BOEM will continue to ensure scientific data and Indigenous traditional ecological knowledge inform its decision-making across its programs. BOEM will also promote environmental justice and the Administration’s Justice40 initiative to deliver benefits to underserved communities.

Executive Direction. The FY 2023 budget includes $20.3 million for BOEM’s executive functions, to provide Bureau-wide strategic leadership, management, budget, and administrative support. In FY 2023, BOEM will continue to support Biden-Harris Administration and Department-wide initiatives to promote Diversity, Equity, Inclusion, and Accessibility by implementing the Justice, Equality, Diversity, and Inclusion (JEDI) Charter and establishing an Office of Equity and Inclusion to advance all aspects of equal opportunity, diversity, and inclusion to foster a stronger and more inclusive culture throughout the Bureau.

The Budget makes these smart investments while also reducing deficits and improving our country’s long-term fiscal outlook.

For more information on the President’s FY 2023 Budget, please click here. Additional details on the Department’s FY 2023 budget proposal are available on the Department of Interior’s website.

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