Doug Burgum

Selling a lease to a private company, they send a check and then they develop the resource and then they send us a royalty. The little company that I just met with this morning out on the platform on the Gulf of America in its inception, this is a company with 450 people. They have sent $1.2 billion to the U.S. Treasury over the life of their company.

Selling a lease to a private company, they send a check and then they develop the resource and then they send us a royalty. The little company that I just met with this morning out on the platform on the Gulf of America in its inception, this is a company with 450 people. They have sent $1.2 billion to the U.S. Treasury over the life of their company.

You know, show me a tech company that's done that. I mean, impossible.

You know, show me a tech company that's done that. I mean, impossible.

Well, the lease and they lease it up front. So they write a check up front to have the opportunity to take the risk. They take all the risk. They build the platform. They hire the people. They do the seismic. They figure it out. And if they hit a dry hole, it's all on them. Taxpayer, nothing. But if they score, then they pay us a royalty. And what do we use that for?

Well, the lease and they lease it up front. So they write a check up front to have the opportunity to take the risk. They take all the risk. They build the platform. They hire the people. They do the seismic. They figure it out. And if they hit a dry hole, it's all on them. Taxpayer, nothing. But if they score, then they pay us a royalty. And what do we use that for?

We use it for, you know, we use it for paying down the deficit and the debt. We also use it for coastal restoration. along this beautiful Gulf Coast. You do coastal restoration with that. The dollars go back to the states. The largest funder of coastal restoration in this country is the oil and gas industry here in the Gulf.

We use it for, you know, we use it for paying down the deficit and the debt. We also use it for coastal restoration. along this beautiful Gulf Coast. You do coastal restoration with that. The dollars go back to the states. The largest funder of coastal restoration in this country is the oil and gas industry here in the Gulf.

So again, like I said, if you've driven on an interstate highway in your life or if you've gone to a public school, you should send a thank you note to the natural resource industries because they were helping to pay for that. But what's happened? If there's $100 trillion on the balance sheet, just say that,

So again, like I said, if you've driven on an interstate highway in your life or if you've gone to a public school, you should send a thank you note to the natural resource industries because they were helping to pay for that. But what's happened? If there's $100 trillion on the balance sheet, just say that,

And now, and you're a finance tech venture guy, you can say, okay, we'll allow the federal government to be the worst. You guys can have a 1% return on your natural assets. That would be $1 trillion. Okay. Last year, Interior brought in $22 billion. So we're off by a factor of 50 from having bad performance on getting a return on investment for the American people.

And now, and you're a finance tech venture guy, you can say, okay, we'll allow the federal government to be the worst. You guys can have a 1% return on your natural assets. That would be $1 trillion. Okay. Last year, Interior brought in $22 billion. So we're off by a factor of 50 from having bad performance on getting a return on investment for the American people.

Because we don't even know what the base unused resource is. I mean, we're trying to get our hands around, you know, what is our timber worth? What is our oil and gas? And that goes back to the core mission of the U.S. Geologic Survey. Its original core mission was to map.

Because we don't even know what the base unused resource is. I mean, we're trying to get our hands around, you know, what is our timber worth? What is our oil and gas? And that goes back to the core mission of the U.S. Geologic Survey. Its original core mission was to map.

So when we say it's, you know, it's map, baby, map, because then that can tell you, you know, where you're supposed to mine, baby, mine, where you're supposed to drill, baby, drill. But getting back to the mapping and working with the private sector who's outstripped Who's outstripped?

So when we say it's, you know, it's map, baby, map, because then that can tell you, you know, where you're supposed to mine, baby, mine, where you're supposed to drill, baby, drill. But getting back to the mapping and working with the private sector who's outstripped Who's outstripped?

I mean, ground penetrating radar is, you know, a new advancement that's more accurate than seismic and less intrusive. And we need to really understand what America's balance sheet is. And some of that's going to take some work for us to get out there and really survey it. And then when we have that, that's public domain.

I mean, ground penetrating radar is, you know, a new advancement that's more accurate than seismic and less intrusive. And we need to really understand what America's balance sheet is. And some of that's going to take some work for us to get out there and really survey it. And then when we have that, that's public domain.

Publish that information and that'll help the private sector steer where they should put their resources to help develop this.

Publish that information and that'll help the private sector steer where they should put their resources to help develop this.