Changes to US clean energy tax incentives have dominated headlines as the US Congress moved to pass a massive legislative package this week, but conventional oil and gas interests also found many headline-worthy items in the bill.
Those include a bevy of more industry-friendly leasing policies that reverse course on the previous Biden administration’s chaotic efforts to limit federal oil and gas leasing that often ended up in the courts. The One Big Beautiful Bill Act also delivered some of the industry's biggest wish-list items, led by the full restoration of a long-prized tax deduction for drilling costs as well as selective accelerated environmental reviews. Large swaths of the industry also applauded the 10-year delay in a federal fee on excess methane emissions to 2035.
The US House of Representatives passed the Trump administration’s staggering package of energy and tax policies Thursday in a 218-214 vote. President Donald Trump is expected to sign the bill into law on the Jul. 4 US independence holiday.
Expanded Resource Access
Oil and gas interests have been clamoring for more mandated lease sales etched into law to prevent future administrations from shrinking back on holding auctions. The Big Beautiful Bill delivers just that.
