A coalition of U.S. oil and gas producers, representing 80% of domestic fossil fuel production, has sent a letter to House Speaker Mike Johnson urging swift approval of the Energy Permitting Reform Act. The group emphasizes the importance of this legislation in attracting new investments in domestic oil and gas projects, enhancing national energy security, and advancing stalled energy infrastructure projects.
The Energy Permitting Reform Act, also known as the 2024 bill, authored by Sens. Joe Manchin and John Barrasso, is seen as a critical step towards comprehensive permitting reform. The letter highlights the need for House Republicans to pass this bill promptly to expedite actions for producers.
Pressure has been mounting on House Republicans as the 118th session of Congress nears its end. There are suggestions to pair the permitting reform bill with National Environmental Policy Act (NEPA) reforms, potentially garnering more support from House Republicans.
The signatories of the letter include major industry groups such as the Gulf Energy Alliance, the U.S. Oil & Gas Association, and the Independent Petroleum Association. They reference an analysis showing that the timeline for new U.S. energy infrastructure projects to become operational has increased from two years in 2000 to over five years currently, leading to investment discouragement and threats to energy security.
National Ocean Industries Association President Erik Milito stresses the urgency of the Energy Permitting Reform Act, emphasizing its importance in establishing a robust national energy and permitting policy framework. The reforms aim to streamline the permitting process, boost domestic energy production, and uphold environmental safeguards.
President-elect Donald Trump has expressed support for unleashing U.S. energy production, particularly in oil and gas. He has criticized the Biden administration for perceived failures in the sector and has advocated for a focus on traditional energy sources.