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COMPETES Act

1/1/2023, 11:49 PM

Congressional Summary of S 2962

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.

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Current Status of Bill S 2962

Bill S 2962 is currently in the status of Bill Introduced since October 7, 2021. Bill S 2962 was introduced during Congress 117 and was introduced to the Senate on October 7, 2021.  Bill S 2962's most recent activity was Read twice and referred to the Committee on Energy and Natural Resources. as of October 7, 2021

Bipartisan Support of Bill S 2962

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 2962

Primary Policy Focus

Energy

Alternate Title(s) of Bill S 2962

A bill to amend the Mineral Leasing Act to ensure market competition in onshore oil and gas leasing, and for other purposes.
COMPETES Act
COMPETES Act
Competitive Onshore Mineral Policy via Eliminating Taxpayer-Enabled Speculation Act

Comments

Sponsors and Cosponsors of S 2962

John W. Hickenlooper
John W. Hickenlooper
ColoradoDemocrat
Jacky Rosen
Jacky Rosen
NevadaDemocrat
Martin Heinrich
Martin Heinrich
New MexicoDemocrat

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