Summary:
The U.S. House of Representatives released its energy bill, H.R. 1, the Lower Energy Costs Act which will increase the production and export of American energy and reduce the regulatory burdens that make it harder to build major infrastructure in the United States through comprehensive permitting reform. The Lower Energy Costs Act will also expedite critical mineral mining, streamline manufacturing, and make it easier to transport and export American natural gas by repealing the natural gas tax and speeding permitting for critical projects. It will also reform the National Environmental Policy Act (NEPA) that currently adds years of delays and millions of dollars in costs to energy and infrastructure projects. The Lower Energy Costs Act will provide a streamlined, simplified permitting process for all federally impacted projects, speeding construction for pipelines, transmission, and water infrastructure. By fast-tracking the approval process for American energy production on federal lands and waters and speeding up the permitting process, the bill will lower costs for Americans and help grow the U.S. economy.
Fast Facts: - The Bill is an attempt to dispel some of the Biden Administration's anti-oil and gas policies, pipeline permitting delays, and rejections of critical mineral mines such as revoking the leases for the Twin Metals mine in Minnesota and withdrawing lands from mining, despite resources known to be in place.
- The Institute for Energy Research (IER) showed in its report on environmental quality that Biden's preference for oil production outside of North America results in oil and natural gas production moving from countries with the highest environmental standards to countries with lower, or even functionally zero, environmental standards.
- By withholding oil and gas production leases and minimizing land available for future production, President Biden is not allowing taxpayers to get the full value of the resources on public lands owned by the American public.
- President Biden told his federal agencies to ensure climate change is factored into their work and even issued that edict to the Federal Energy Regulatory Commission (FERC)—a politically independent agency in charge of certain energy activities including natural gas permitting.
- While the United States has critical minerals needed for wind turbines, solar panels, electric vehicles and their batteries, Biden is making it difficult to mine those resources in the United States by removing lands from mining, revoking leases, delaying permits and listing wildflowers as endangered.
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