Several Republican Senators have reintroduced a bill to streamline oil and gas development permitting in the U.S., aimed at boosting mineral revenues for states and reducing regulatory burdens and costs.
U.S. Senator John Barrasso (R-WY), together with Senators Mike Enzi (R-WY), John Hoeven (R-ND), and Kevin Cramer (R-ND), reintroduced on Thursday the Opportunities for the Nation and States to Harness Onshore Resources for Energy (ONSHORE) Act.
The provisions of the ONSHORE Act eliminate duplicative regulations, which are currently discouraging "oil and gas development on federal land and deprive states and local communities of much-needed jobs and revenues," Senator Barrasso said in a statement.
The bill gives states the authority to manage the oil and gas permitting processes and the regulatory responsibilities on federal land within their borders. According to the bill's sponsor and co-sponsors, the Act would promote energy development by cutting regulatory costs and uncertainty, while at the same time boost mineral revenues for the states and create jobs.
"Putting states in the driver's seat will cut down permitting delays, create jobs, promote economic growth and increase America's energy dominance," Senator Barrasso said.
"I cosponsored @SenJohnBarrasso's ONSHORE Act, which would make it easier for states to manage oil & gas permitting & regulatory responsibilities on federal land. Empowering states can help create more jobs, more local revenue & keep energy prices low," Senator Enzi tweeted.
"It is time to move away from some of the unnecessary, duplicative and burdensome regulations imposed by the federal government that keep us from utilizing our natural resources to their fullest. States like Wyoming, with proven safety and environmental track records, can responsibly issue permits more efficiently and effectively to help realize that potential," Senator Enzi added.
"Duplicative and overreaching federal regulations are wasteful, bad for the economy, and harmful to the environment," Senator Cramer said.
By Tsvetana Paraskova for Oilprice.com
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Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. More