COMPETES Act

1/1/2023, 11:49 PM

Competitive Onshore Mineral Policy via Eliminating Taxpayer-Enabled Speculation Act or the COMPETES Act

This bill revises the process of leasing public land for oil and gas development. For example, it requires the Bureau of Land Management (BLM) to issue all onshore oil and gas leasing through a competitive bidding process.

Further, the BLM must ensure the receipt by the United States of fair market value for any land or resources leased and any rights covered by the United States.

Congress
117
Number
S - 2962
Introduced on
2021-10-07
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

10/7/2021
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Competitive Onshore Mineral Policy via Eliminating Taxpayer-Enabled Speculation Act or the COMPETES Act

This bill revises the process of leasing public land for oil and gas development. For example, it requires the Bureau of Land Management (BLM) to issue all onshore oil and gas leasing through a competitive bidding process.

Further, the BLM must ensure the receipt by the United States of fair market value for any land or resources leased and any rights covered by the United States.

Alternative Names
Official Title as IntroducedA bill to amend the Mineral Leasing Act to ensure market competition in onshore oil and gas leasing, and for other purposes.
Policy Areas
Energy

Comments

Related

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Recent Activity

Latest Summary12/15/2022

Competitive Onshore Mineral Policy via Eliminating Taxpayer-Enabled Speculation Act or the COMPETES Act

This bill revises the process of leasing public land for oil and gas development. For example, it requires the Bureau of Land Ma...

Latest Action10/7/2021
Read twice and referred to the Committee on Energy and Natural Resources.