US House Passes First Major Energy Bill In A Decade #legislation #bills

By 3rd December 2015 Industry News No Comments

As President Obama recovers from jet lag after returning from the Paris Climate Summit, the US House is making it clear that it will stand in the way of his attempts to browbeat the oil and gas sector into accepting climate action proposals.

Thursday morning, the lower chamber passed the first broad energy bill in almost a decade. Though facing a veto threat from President Obama, symbolically this measure draws another line in the sand between the climate change activism of the executive branch and the Republican-controlled legislative branch.

The text of the legislation says the bill’s purpose is “To modernize energy infrastructure, build a 21st century energy and manufacturing workforce, bolster America’s energy security and diplomacy, and promote energy efficiency and government accountability, and for other purposes.”

The North American Energy Security and Infrastructure Act of 2015, passed in a 249-174 vote, aims to achieve the following regarding O&G:

Boost Domestic Energy Production
Modernize Energy Infrastructure
End The Oil Export Ban
Accelerate LNG Exports
Speed Up Approval Of Natural Gas Pipelines Across Public Lands
Advance Cross-Border Midstream Projects Such As The Keystone XL Oil Pipeline

Sponsored by Rep. Fred Upton (R-Mich.), the bill would update federal energy regulations and laws for the first time since 2007. Republicans have said the legislation is an important way to keep federal policies updated with growing domestic O&G production.

Fred Upton (R-MI)

Upton said during floor debate earlier this week, “A decade ago no one could have imagined where we would be in 2015 and how much the energy script would be flipped in our favor.”

“But now that we are here, it is time to bring our energy policy in line with the new realities. It’s time we put the scarcity mindset in the rear view mirror and say yes to energy and yes to jobs,” he added.