Bills · S 1030
IN COMMITTEE· 119TH CONGRESS
Senate BillS 1030Energy
Stop Giving Big Oil Free Money Act
INTRO MAR 13· LAST ACTION MAR 13
READING
5MIN
COSPONSORS
4
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it aims to ensure that the public receives a fairer return from the extraction of its natural resources, especially during periods of high energy prices. For years, some older oil and gas leases have allowed companies to avoid paying royalties when oil and gas prices are above certain thresholds, meaning taxpayers miss out on potential revenue that could be used for other public services or deficit reduction.
If this bill becomes law, it could lead to increased federal revenue from oil and gas production in the Gulf of Mexico. It would also create a more consistent policy across all new and future leaseholders, potentially leveling the playing field. If it doesn't pass, the existing royalty exemptions for these specific older leases would continue, and the government would forgo potential revenue when energy prices are high. This connects to ongoing debates about energy policy, federal revenue, and the environmental impact of fossil fuel extraction.
KEY PROVISIONS
5AI-extractedPROVISION 01
Prohibits the Secretary of the Interior from issuing new oil or natural gas leases in the Gulf of Mexico to companies that hold specific existing royalty-free leases.
This provision creates a strong incentive for companies to renegotiate old royalty-free leases if they want to expand their operations in the Gulf.
PROVISION 02
Requires companies to renegotiate their existing, older royalty-free leases to include royalty payments when oil and natural gas prices exceed specified thresholds.
This ensures that the public receives a share of profits from oil and gas extraction during periods of high energy prices.
PROVISION 03
Extends the renegotiation requirement to companies seeking to obtain existing leases in the Gulf of Mexico through sale or transfer.
This prevents companies from bypassing the new requirements by acquiring leases from other entities instead of directly from the government.
PROVISION 04
Allows individual shares of a multi-lessee covered lease to be renegotiated separately.
This provides flexibility for companies that only hold a portion of an affected lease to comply without requiring agreement from all partners.
PROVISION 05
Offers an option for holders of existing leases from 1996-2000 in the Central and Western Gulf of Mexico to proactively request an amendment to add price thresholds for royalty suspension, effective October 1, 2026.
This provides a mechanism for companies to voluntarily comply and potentially avoid future restrictions, while also setting a clear effective date.
SPONSORSHIP
1 + 4
D· Massachusetts
YRS IN OFFICE
51
BILLS LED
164
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 3 REP 0 IND 1
ACTION TIMELINE
2 EVENTSMAR 13
Introduced in Senate
MAR 13
Read twice and referred to the Committee on Energy and Natural Resources.
BILL INFO
TypeSenate Bill
NumberS 1030
Congress119th
StatusIn Committee
IntroducedMar 13, 2025
Last actionMar 13, 2025
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IN COMMITTEE· 119TH CONGRESS · ENERGY AND NATURAL RESOURCES COMMITTEE · INTRODUCED MAR 13, 2025
Senate BillS 1030Energy
Stop Giving Big Oil Free Money Act
INTRODUCED MAR 13, 2025· LAST ACTION MAR 13, 2025
PASSAGE CHANCES
—%
READING
5 min
COSPONSORS
4
COMPLEXITY
Moderate
