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More Energy, More Jobs: New Oil and Gas Extraction Rules

This act aims to increase oil and gas extraction in U.S. offshore waters, potentially impacting energy prices and job availability. It introduces new rules for leasing extraction areas, including annual auctions in the Gulf of Mexico and faster permit issuance. This could mean more jobs in the energy sector, but also potential environmental impacts.
Key points
Establishes a new five-year program for leasing oil and gas extraction areas on the outer continental shelf.
Allows coastal states to nominate areas for leasing, which must be considered by the federal government.
Mandates annual lease sales in the Gulf of Mexico, covering Central and Western areas.
Shortens the permit approval time for offshore oil and gas activities to 75 days, unless clear grounds for denial exist.
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Additional Information
Print number: 117_HR_1325
Sponsor: Rep. Brady, Kevin [R-TX-8]
Process start date: 2021-02-25