We don’t have a summary available yet.
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Oct 4, 2021.
Ending Taxpayer Welfare for Oil and Gas Companies Act of 2021
This bill addresses royalties related to the development of federal energy resources.
Among other requirements, the bill
increases the onshore royalty rates for new oil, gas, and coal leases; increases onshore rental rates for oil and gas leasing; modifies the current onshore oil and gas minimum bid from $2 to $5 and requires it to be adjusted every four years for inflation; and increases inspection fees and penalties on oil and gas operators.
