Senate Bill 947
118th Congress(2023-2024)
Lower Energy Costs Act
Introduced in Senate on Mar 22, 2023
Mar 22, 2023
Latest Action
Mar 22, 2023
Origin Chamber
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
Policy Area
Primary focus of measure is all sources and supplies of energy, including alternative energy sources, oil and gas, coal, nuclear power; efficiency and conservation; costs, prices, and revenues; electric power transmission; public utility matters.
Sponsorship by Party
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.

Lower Energy Costs Act

This bill provides for the exploration, development, importation, and exportation of energy resources (e.g., oil, gas, and minerals). For example, it sets forth provisions to (1) expedite energy projects, (2) eliminate or reduce certain fees related to the development of federal energy resources, and (3) eliminate certain funds that provide incentives to decrease emissions of greenhouse gases.

The bill expedites the development, importation, and exportation of energy resources, including by

  • waiving environmental review requirements and other specified requirements under certain environmental laws,
  • eliminating certain restrictions on the import and export of oil and natural gas,
  • prohibiting the President from declaring a moratorium on the use of hydraulic fracturing (a type of process used to extract underground energy resources),
  • directing the Department of the Interior to conduct sales for the leasing of oil and gas resources on federal lands and waters as specified by the bill, and
  • limiting the authority of the President and executive agencies to restrict or delay the development of energy on federal land.

In addition, the bill reduces royalties for oil and gas development on federal land and eliminates charges on methane emissions.

It also eliminates a variety of funds, such as funds for energy efficiency improvements in buildings as well as the greenhouse gas reduction fund.

Text (1)
March 22, 2023
Actions (2)
Read twice and referred to the Committee on Energy and Natural Resources.
Introduced in Senate
Public Record
Record Updated
Sep 20, 2023 2:09:39 PM