S. 947 · 118th Congress
Lower Energy Costs Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
KennedySponsorNo cosponsors.
This bill provides for the exploration, development, importation, and exportation of energy resources (e.g., oil, gas, and minerals).
What it does: CRS summary · Introduced in Senate · Mar 22, 2023
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Lower Energy Costs Act
Latest action (Mar 22, 2023): Read twice and referred to the Committee on Energy and Natural Resources.
Policy area: Energy · Origin: Senate · Introduced: Mar 22, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.