LEASE Act of 2008

[AI summary unavailable — showing source text] Long-Term Energy Assurance and Security Enhancement Act of 2008 or the LEASE Act of 2008 - Instructs the Secretary of the Interior to open certain areas in the Eastern Gulf of Mexico to oil and gas leasing. Directs the Secretary of the Treasury to distribute certain Outer Continental Shelf (OCS) revenues to: (1) the general fund of the Treasury; (2) the Energy Independence and Security Fund (established by this Act); (3) Gulf producing states; and (4) financial assistance to states. Allocates funds among Gulf producing states and coastal political subdivisions. Instructs the Secretary of the Interior to: (1) protect the environment and the conservation of the natural resources of the OCS; and (2) establish lateral boundaries between coastal states in areas of the OCS that are outside the Gulf of Mexico and under exclusive federal jurisdiction in order to lease areas for oil and natural gas exploration and production. Authorizes the governor of a coastal state to request the Secretary of the Interior to assess OCS oil and gas resources. Terminates federal prohibitions against the expenditure of appropriated funds to conduct oil and natural gas leasing and preleasing in specified are…