Bill > S2409

This bill, the American Energy Independence and Security Act of 2014, authorizes the exploration, leasing, development, production, and transportation of oil and gas in the Coastal Plain of Alaska, a specific area defined by federal regulations. It repeals a previous law that prohibited such activities in this region and establishes a competitive oil and gas leasing program managed by the Secretary of the Interior. The bill mandates that this program must be environmentally sound, ensuring no significant adverse effects on fish, wildlife, their habitats, or subsistence resources, and requires the use of the best available technology. Environmental impact statements are required, but with limitations on analyzing alternative actions. Lease sales will be conducted through sealed competitive bids, with a minimum of 200,000 acres offered in the first sale. Lease terms will include a royalty of at least 12.5%, requirements for lessees to be responsible for land reclamation to its prior condition or better, and the use of project labor agreements to ensure labor stability. The bill also specifies that 50% of all revenue from these leases will go to the State of Alaska, with the remainder going to the U.S. Treasury, and clarifies land ownership for certain Alaska Native corporations.