“I often say, ‘energy is the backbone of our economy.’ You cannot make or deliver a product without factoring in energy costs. When we keep energy costs low, it keeps products more affordable for American consumers.
Luckily, after four years of high prices under Joe Biden, Congressional Republicans just passed President Trump’s ‘One Big, Beautiful Bill’ (OBBB) to restore America’s energy dominance and help deliver on President Trump’s promise to drive down costs. Under the previous administration, gas prices doubled, and America’s energy producers faced countless delays and obstruction due to burdensome regulations. President Trump is unleashing American energy and allowing our people to get back to work producing again.
Senate Republicans are prioritizing American energy alongside President Trump and his team, including Energy Secretary Wright, Interior Secretary Burgum, and Environmental Protection Agency (EPA) Administrator Zeldin. We recognize that U.S. energy security is national security, and it is essential we reestablish America’s energy independence to reduce our dependency on hostile foreign countries. We know our adversaries will stop at nothing to harm the United States. Our critical mineral supply and abundance of natural resources must be utilized and protected for generations to come. President Trump is making this nation energy independent again.
Earlier this year, my colleagues Senators Capito and Fischer, and I introduced joint resolutions to put a stop to California’s costly and extreme Green New Deal agenda that bankrupted families, created a competitive disadvantage for manufacturers, and eliminated consumer choice for hundreds of millions of American families. Thankfully with President Trump’s return to the White House, he restored common-sense and signed our resolutions into law so that no other American must suffer under the Democrats’ radical electric vehicle mandates (EV).
Our recently passed OBBB is paving the way for the resurgence of powerful and reliable American energy to our grid. This bill rescinds handouts and economically draining subsidies while including critical energy reforms to reduce our reliance on foreign energy production. The OBBB will boost production by lowering costly taxes imposed on domestic onshore and offshore energy production by reducing the royalty rate for new federal oil and gas leases from 16.67% to 12.5%. It bolsters oil and gas development by requiring quarterly oil and gas lease sales on federal lands in any state where eligible pieces are nominated, in addition to mandating a minimum of two offshore lease sales in the Gulf of America per year through 2039.
At the same time, we are reducing the Bureau of Land Management’s (BLM) bureaucratic red tape by streamlining the approved Applications for Permits to Drill (APD) process and extending validity terms to four years compared to the previous two-year term with the option of another two-year extension.
As we know, one of the largest messes left by the Biden Administration was the depletion of our Strategic Petroleum Reserve (SPR). They left America vulnerable with the SPR at its lowest levels in 40 years. The OBBB is getting us back on track to reestablishing our supply by removing the Department of Energy (DOE) FY26-FY27 SPR crude oil sale requirement and providing $389 million in funding— $171 million for refilling the SPR, and $218 million to maintain the SPR.
Our pipeliners, coal miners, electricians, welders, rig workers, and engineers, are the backbone of this country. They are what keep us going at every moment of our day and in every aspect of our life. I’m grateful to them and grateful to President Trump that we were able to deliver this bill to support American workers, businesses, and families. The American energy industry is strong, and the ‘One Big, Beautiful Bill’ delivers key wins that will ensure generations to come are safe, secure, and supported.”
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