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Oil and Gas Production: New Rules for Strategic Reserves and Federal Lands.

This bill introduces new rules for the use of strategic petroleum reserves. It mandates that the government must develop a plan to increase oil and gas production on federal lands before drawing down strategic reserves. This aims to balance reserve usage with increased domestic production, potentially impacting energy price stability and fuel availability.
Key points
Before the government can use strategic petroleum reserves, it must create a plan to increase oil and gas production on federal lands.
The increase in production on federal lands must be proportional to the amount of oil drawn from reserves, but cannot exceed a 10% increase in leased land.
These changes aim to ensure that the use of strategic reserves is linked to an increase in domestic energy production.
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Additional Information
Print number: 118_HR_591
Sponsor: Rep. Biggs, Andy [R-AZ-5]
Process start date: 2023-01-27