2 days ago
How Trump's ‘Big Beautiful Bill' could affect oil and gas
MIDLAND, Texas (KMID/KPEJ) – President Trump's 'Big, beautiful bill' could pass by July 4th bringing tax cuts, border security, and a boost for Permian Basin jobs. Representative August Pfluger has championed several provisions in the bill to help the oil and gas industry.
Energy provisions:
Expedited LNG Exports (Section 41003) — Expedites approvals by deeming applications to non-free trade countries 'in the public interest' upon payment of a $1 million fee, eliminating a previously lengthy review process. This streamlining preserves existing legal and regulatory authorities while potentially reducing approval timelines from years to months.
Natural Gas Permitting Reform (Section 41005) — Creates a voluntary expedited permitting pathway with guaranteed timelines, requiring agencies to complete reviews within one year of fee payment ($10M or 1% of project cost). If review deadlines are missed, applications are automatically approved, and legal challenges are limited.
Strategic Petroleum Reserve Funding (Section 41008) — Provides a $2 billion appropriation for the Strategic Petroleum Reserve (SPR), including $218 million for cavern repairs, $1.32 billion for oil purchases, and directs the remaining funds to reverse prior mandated sales. This targeted investment strengthens U.S. energy security and reserve readiness.
Environmental Provisions:
Air Pollution Monitoring Limitation (Section 42105) — Repeals and rescinds unobligated funds from IRA Section 60105, which had allocated $281.5 million to the EPA for expanding air quality monitoring networks. This reduces the EPA's ability to identify new non-attainment zones, limiting additional regulatory burdens.
Methane Emissions Program Delay (Section 42113) — Extends the timeline for the Methane Emissions Reduction Program charges by an additional 10 years.
Healthcare provisions:
Affordable Care Act Exchange Reforms (Section 44201) — Amends the Affordable Care Act's (ACA) definition of 'lawfully present' to exclude Deferred Action for Childhood Arrivals (DACA) recipients. This change counters the Biden Administration's May 2024 rule, which expanded ACA eligibility to include DACA recipients, a move with potential legal and financial implications.
For more information on this legislative package, visit: Text – H.R.1 – 119th Congress (2025-2026): One Big Beautiful Bill Act | | Library of Congress
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