Stop Giving Big Oil Free Money Act of 2019

House Bill 5186 - Stop Giving Big Oil Free Money Act of 2019: Overview, Status, and Impact

Hozzl · 2022-10-28T02:00:25Z

Explore the details of House Bill 5186 Stop Giving Big Oil Free Money Act of 2019 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Energy. Stay informed on legislative developments.

10/28/2022, 2:00 AM

Congressional Summary of HR 5186

Stop Giving Big Oil Free Money Act of 2019

This bill prohibits the Department of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico to any person who does not renegotiate certain existing leases to require royalty payments if the price of oil and natural gas is greater than or equal to specified price thresholds.

Interior must also, upon request, agree to amend any lease issued for any Central and Western Gulf of Mexico tract during the period of January 1, 1996, through November 28, 2000, to incorporate specified price thresholds.

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Current Status of Bill HR 5186

Bill HR 5186 is currently in the status of Bill Introduced since November 20, 2019. Bill HR 5186 was introduced during Congress 116 and was introduced to the House on November 20, 2019. Bill HR 5186's most recent activity was Referred to the Subcommittee on Energy and Mineral Resources. as of December 6, 2019

Bipartisan Support of Bill HR 5186

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 5186

Primary Policy Focus

Energy

Potential Impact Areas

- Energy prices

- Energy revenues and royalties

- Gulf of Mexico

- Marine and coastal resources, fisheries

- Oil and gas

Alternate Title(s) of Bill HR 5186

Stop Giving Big Oil Free Money Act of 2019

To prohibit the Secretary of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act to a person that does not renegotiate its existing leases in order to require royalty payments if oil and natural gas prices are greater than or equal to specified price thresholds, and for other purposes.

Stop Giving Big Oil Free Money Act of 2019