Legislative Activity

The LNG Public Interest Determination Act of 2025 amends the Natural Gas Act, requiring the Secretary of Energy to approve natural gas exports only if they are deemed to be in the public interest. Approval requires assessments regarding climate change, economic impacts, and environmental justice, ensuring exports do not significantly worsen climate change, increase energy prices for U.S. consumers, or unfairly burden vulnerable communities. The Act mandates public participation, especially from communities with environmental justice concerns, and terminates a rule that automatically excludes certain natural gas export approvals from environmental review. The Secretary of Energy must create regulations to implement this law within one year.

The "End Oil and Gas Tax Subsidies Act of 2025" aims to eliminate various tax benefits and subsidies currently provided to the oil and gas industry. It repeals or modifies provisions related to amortization of geological expenditures, tax credits for marginal wells and enhanced oil recovery, intangible drilling costs, percentage depletion for oil and gas wells, deductions for tertiary injectants, and passive loss limitations. The act also prohibits major integrated oil companies from using last-in, first-out (LIFO) accounting and modifies foreign tax credit rules for dual capacity taxpayers. Additionally, the bill clarifies the definition of crude oil for excise tax purposes to include tar sands.

The Exported Carbon Emissions Report Act of 2025 mandates the EPA Administrator to annually collect and publish data on domestic carbon dioxide and methane emissions, as well as emissions resulting from the leakage and combustion of fossil fuels exported from the U.S. The Administrator will use the best available science and established international standards, consult with relevant agencies, and publish the information on the EPA's website. This aims to provide a comprehensive understanding of the carbon emissions associated with U.S. fossil fuels, both domestically and internationally. This action must begin within 180 days after the enactment of this Act.