Congress repeals Biden offshore oil and gas rule

AmericasOffshore
Legislation to repeal a rule adding costs to offshore drilling imposed by the Biden administration has been repealed after a vote in Congress.

Representatives from the Republican party used the Congressional Review Act to cancel out certain regulations which former US president Joe Biden was able to finalise near the end of his tenure.

During the week, five votes in the House or Senate repealed several energy and financial-related regulations.

The most recent one cleared the House of Representatives on Thursday. It repealed a requirement that new oil and gas leaseholders on the US outer continental shelf submit an archaeological report before they start offshore drilling production. The vote passed the Senate last week meaning that it will be soon heading to president Trump’s table for signing.

“This is a major step towards unleashing American energy, lowering costs, and undoing the damage of the Biden-Harris administration,” said House Republican Conference Chairwoman Lisa McClain.

The vote was 221-202 to repeal the rule. Even nine representatives from the Democratic party joined the Republican majority with just one Republican voting against and one abstaining.

This is the second vote that will help the oil and gas industry following the scrapping of an Environmental Protection Agency regulation charging oil and gas producers a fee on methane emission leaks. The vote passed both chambers of Congress last week.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.