In 2025, the federal government dramatically expanded onshore oil and gas leasing. Nearly half a million acres of public land were offered for development across 22 lease sales in 11 states. But the surge in leasing did not deliver better outcomes for taxpayers. Roughly 327,000 acres—two-thirds of the acreage offered—were leased, much of it at the recently lowered royalty rate of 12.5%.

Leasing more public land for oil and gas development did not translate into better returns for taxpayers. Leasing public lands at below-market royalty rates locks taxpayers into bad deals for decades to come.