Offshore Leasing Standards and Accountability Act of 2026

This bill would change federal law on offshore oil and gas leases on the outer Continental Shelf. The Interior Secretary could not issue, extend, or approve the transfer of a lease unless the company is certified as fit to operate, based on its safety and environmental record, unpaid fees, credit rating, bankruptcy history, and ability to pay cleanup costs. Leaseholders would be checked each year and could face penalties or lease suspension if they fall out of compliance. Leaseholders would also have to pay into escrow accounts that cover the full estimated cost of removing wells, platforms, and pipelines within 5 years. The bill would limit temporarily abandoned oil wells to 3 years, with one possible extension to 5 years.

Full text and official record on Congress.gov

Sponsors

• Adam B. Schiff Democrat sponsor
• 1 cosponsors