The bill's implications are significant for state laws as they may invite increased oil and gas exploration and extraction activities. By reducing the costs associated with leasing federal lands, it aims to boost domestic energy production. Proponents of the bill argue that these steps are necessary to ensure energy independence and stimulate economic growth, particularly in regions that rely heavily on the energy sector.
Summary
House Bill 9017, titled the 'Declaration of Energy Independence Act', proposes amendments to the Mineral Leasing Act, with particular focus on adjusting royalty rates for oil and gas extraction on federal lands. Specifically, the bill lowers the royalty rate from 16.67% to 12.5% for onshore oil and gas leases and revises conditions for reinstatement of leases. These adjustments could affect how federal lands are leased to oil and gas companies, potentially making it more appealing for them to operate on public land under the revised financial terms.
Contention
However, the bill is not without its controversies. Critics express concerns about the environmental ramifications of increasing oil and gas drilling on federal lands, fearing that it could lead to heightened pollution and other ecological impacts. Additionally, they are apprehensive that less stringent royalty requirements may diminish government revenue from natural resource extraction, potentially impairing funds for public services and environmental protection initiatives.
Lower Energy Costs Act This bill provides for the exploration, development, importation, and exportation of energy resources (e.g., oil, gas, and minerals). For example, it sets forth provisions to (1) expedite energy projects, (2) eliminate or reduce certain fees related to the development of federal energy resources, and (3) eliminate certain funds that provide incentives to decrease emissions of greenhouse gases. The bill expedites the development, importation, and exportation of energy resources, including by waiving environmental review requirements and other specified requirements under certain environmental laws, eliminating certain restrictions on the import and export of oil and natural gas, prohibiting the President from declaring a moratorium on the use of hydraulic fracturing (a type of process used to extract underground energy resources), directing the Department of the Interior to conduct sales for the leasing of oil and gas resources on federal lands and waters as specified by the bill, and limiting the authority of the President and executive agencies to restrict or delay the development of energy on federal land. In addition, the bill reduces royalties for oil and gas development on federal land and eliminates charges on methane emissions. It also eliminates a variety of funds, such as funds for energy efficiency improvements in buildings as well as the greenhouse gas reduction fund.
Water Quality Certification and Energy Project Improvement Act of 2023 TAPP American Resources Act Transparency, Accountability, Permitting, and Production of American Resources Act Regulations from the Executive in Need of Scrutiny Act of 2023
Lower Energy Costs Act Water Quality Certification and Energy Project Improvement Act of 2023 TAPP American Resources Act Transparency, Accountability, Permitting, and Production of American Resources Act