summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
BLM Live Internet Auctions Act - Amends the Mineral Leasing Act to authorize the Secretary of the Interior to conduct onshore oil and gas lease sales through Internet-based bidding methods. Requires each individual Internet-based lease sale to be concluded within seven days. Directs the Secretary to analyze and report on the first 10 such lease sales, including estimates of: (1) increases or decreases in such lease sales compared to sales conducted by oral bidding; and (2) the total cost or savings to the Department of the Interior as a result of such sales, compared to sales conducted by oral bidding. Requires the report to evaluate 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 the federal taxpayers, minimize opportunities for fraud or collusion, and ensure the security and integrity of the leasing process.
AI Summary
This bill, titled the BLM Live Internet Auctions Act, amends the Mineral Leasing Act to allow the Secretary of the Interior to conduct onshore oil and gas lease sales using online bidding methods, with each sale needing to conclude within seven days. Following the first ten such internet-based sales, the Secretary is required to submit a report to Congress analyzing their effectiveness. This report will compare the internet sales to traditional oral bidding, estimating any changes in the number of bidders, average bid amounts, highest and lowest bids, and the overall cost or savings to the Department of the Interior. Additionally, the report will evaluate how different online sale structures might improve bidder participation, maximize returns for federal taxpayers, reduce opportunities for fraud or collusion, and ensure the security and integrity of the leasing process.
Committee Categories
Agriculture and Natural Resources
Sponsors (13)
Dan Benishek (R),
Kevin Brady (R),
Paul Broun (R),
Jeff Duncan (R),
Bill Flores (R),
Paul Gosar (R),
Joseph Heck (R),
Bill Johnson (R),
Doug Lamborn (R),
Jeffrey Landry (R),
David Rivera (R),
Tim Scott (R),
Mac Thornberry (R),
Last Action
Placed on the Union Calendar, Calendar No. 252. (on 01/18/2012)
Official Document
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