This bill would change rules for oil and gas royalty relief and set limits on transportation allowances used when calculating royalties. It repeals section 344 of the Energy Policy Act of 2005 and says any regulations made under that section no longer have effect. The bill removes certain language about Planning Areas offshore Alaska in the Outer Continental Shelf Lands Act and makes edits to the Naval Petroleum Reserves Production Act of 1976. It requires the Bureau of Land Management (BLM) and the Bureau of Ocean Energy Management (BOEM) to provide annual reports with details about royalty relief applicants, approvals and denials, wells, production, royalty periods and rates, and estimates of revenue and production impacts. It also directs the Secretary of the Interior to issue or update regulations within one year to create standardized transportation allowances for each BLM onshore administrative area and each offshore planning area. Each standardized allowance may not exceed the lesser of 30 percent of the total value of produced oil and gas or the actual and reasonable transportation costs.
No publicly available information on estimated federal costs, savings, or budget effects is included in the bill text.
No publicly available information in the bill text or metadata describing proponents’ stated reasons or arguments.
No publicly available information in the bill text or metadata describing opponents’ stated reasons or arguments.