COMPETES Act

Hozzl · 2023-01-01T23:49:24Z

Explore the details of Senate Bill 2962 COMPETES Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Energy. Stay informed on legislative developments.

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