AGP Executive Report
Last update: 8 minutes agoSeabed Lease Sale: The U.S. has finalized plans to auction two seabed areas covering about 31 million acres off American Samoa on Nov. 19, with minimum bids of $3 million and 20-year lease terms. A lease would allow preliminary work such as mapping, not immediate mining. Legal and Revenue Fight: Environmental groups and Samoan leaders are suing to stop the sale, challenging federal authority. Governor Pula has sought a share of any revenue, but the federal agency says it lacks authority to provide one; CNMI Governor David Apatang is also urging a pause and enforceable local benefits. Prices: American Samoa’s CPI rose 0.1% year over year in the third quarter, while the quarterly index fell 2.8%. Food prices increased 0.9% during the quarter, with instant coffee, bananas and onions among items rising sharply. Public Funds: A Senate committee’s preliminary report on the government’s $10.1 million investment raised concerns about prior spending from ARPA interest funds without legislative approval and questions over the deal’s oversight.
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