BOEM Economics Division
The Economics Division:
- Conducts economic, statistical, engineering and cost-benefit analyses to evaluate and implement policies for the energy and minerals programs relating to lease terms, bidding systems, auction designs, operating conditions and rulemaking.
- Works to ensure receipt of fair market value for the rights to produce offshore energy and mineral resources.
- Develops and maintains economic and statistical models and databases in support of sale design, resource evaluation, post-sale and operational activities, rulemaking, revenue sharing and royalty relief programs.
- Generates economic assumptions and scenarios for use in post-sale tract evaluations and in applications for royalty relief.
The division comprises a team of interdisciplinary experts that provide economic analysis to other federal departments, bureaus and executive agencies in support of energy and mineral leasing policies and national energy strategies.