Stop Giving Big Oil Free Money Act
- house
- senate
- president
Last progress March 11, 2025 (9 months ago)
Introduced on March 11, 2025 by Raúl M. Grijalva
House Votes
Referred to the House Committee on Natural Resources.
Last progress March 11, 2025 (9 months ago)
Introduced on March 11, 2025 by Raúl M. Grijalva
Referred to the House Committee on Natural Resources.
This bill aims to end “royalty-free” drilling in the Gulf of Mexico when prices are high. It blocks new federal offshore oil and gas leases unless companies agree to add price triggers to their existing Gulf leases. These triggers require them to pay royalties to the public when oil or gas prices reach set levels. The rule also covers anyone who benefits indirectly from these leases.
Companies also can’t buy or receive transfers of Gulf leases unless they’ve added these price-based royalty rules. If a lease is co-owned, the Interior Department can make separate agreements with individual owners for their share. Older Gulf leases from 1996 to 2000 can be amended, on request, to add these price triggers; any new or revised price limits would take effect on October 1, 2026.
Key points