Using Shorter Lease Terms to Encourage Rapid Development: Adopting shorter lease terms, particularly onshore, would provide industry with a built-in incentive to develop leases more rapidly. Adopting this approach would also trigger the earlier release of non- producing leases, making them available to other companies who may be more willing or able to invest in their development. Offshore, the Administration has already implemented adjustments to lease terms for shallower waters. The terms of onshore leases, which currently are issued for standard 10-year terms, are constrained by a nearly century-old statute. .
