This bill, known as the Geo POWER Act, creates a new government program to fund geothermal energy projects in areas where such power has not been previously generated. It directs the Department of Energy to provide milestone-based financing to projects in low-permeability rock formations and regions with limited geothermal activity, including areas on or near Indian lands. The program requires projects to achieve specific technical and financial goals to receive funding, with a minimum of three projects awarded across at least three different states. Each funded project must have the potential to generate at least 30 megawatts of electricity or advance innovative drilling technologies that could enable larger-scale commercial geothermal power.
This bill, known as the License to Drill Act, extends the deadline for collecting fees on new oil and gas drilling permit applications from 2026 to 2037 under the Mineral Leasing Act. It requires the Secretary of the Interior to continue collecting these fees for each new permit application throughout the extended period. The bill also directs that all fees collected between fiscal years 2027 and 2037 be transferred to the BLM Permit Processing Improvement Fund instead of being distributed as previously required. These changes affect the Bureau of Land Management's administrative process for managing oil and gas leasing on federal lands.
This House resolution is a procedural measure that sets the rules for considering seven separate bills in the U.S. House of Representatives. It allows for the expedited consideration of legislation related to juvenile justice in Washington, D.C., law enforcement vehicle pursuits, judicial nominations, energy infrastructure, and coal industry oversight. The resolution waives points of order and limits debate time to streamline the legislative process for these specific bills.
This bill proposes to pause the clean electricity production tax credit for two years, from October 1, 2025, through September 30, 2027. The change would affect electricity generators who currently receive tax benefits for producing clean energy during this period. Money that would have gone to the Treasury from these suspended credits would instead be transferred to the Strategic Petroleum Reserve's funding account. The legislation aims to redirect federal tax revenue to support petroleum stockpiles while temporarily reducing incentives for clean electricity production.
This bill proposes a new windfall profits tax on crude oil producers and importers, targeting companies that extract or import more than 300,000 barrels of oil per day. The tax rate would be 50% of the amount by which current crude oil prices exceed a baseline set at the 2025 average, with adjustments for inflation in subsequent years. Revenue collected from this tax would be placed in a dedicated fund and then rebated directly to individual taxpayers as a credit against their income taxes. The rebate amount would be calculated quarterly based on the total tax revenue collected and distributed to eligible individuals, with higher amounts for joint filers and income-based phase-outs. The bill applies to oil extracted or imported after December 31, 2025, and includes provisions for territories with mirror tax systems to receive equivalent benefits.
This bill, titled the Taiwan Energy Security and Anti-Embargo Act of 2026, aims to enhance Taiwan's energy security by increasing U.S. liquefied natural gas exports to Taiwan and improving the resilience of its energy infrastructure. The legislation authorizes U.S. government agencies to coordinate with Taiwan on energy projects, provide technical assistance for cybersecurity and physical security improvements, and establish a joint U.S.-Taiwan Energy Security Center. It also directs an assessment of redirecting U.S. LNG exports currently sent to China to Taiwan and encourages Taiwan to maintain and expand its nuclear power capabilities. Additionally, the bill provides for insurance on vessels transporting critical goods to Taiwan and clarifies that the measures do not alter the U.S. One China policy.
The Geothermal Gold Book Development Act requires the Department of the Interior to create and publish a "Gold Book" containing standardized procedures for geothermal leasing and permitting on federal lands. This reference guide, to be published within 18 months of the bill's enactment, will cover land use planning, lease sales, and efficient environmental reviews for activities like exploration, drilling, and construction. It directly affects Bureau of Land Management field offices and geothermal developers who will use the Gold Book to streamline permitting processes. The Department must update the Gold Book at least every five years and consult with agencies and stakeholders before publishing it.
HR 3067, the Arctic Refuge Protection Act, repeals the existing oil and gas program for the Arctic National Wildlife Refuge (ANWR) and designates approximately 1.56 million acres of the refuge's Coastal Plain as wilderness. This directly affects federal management of the ANWR, halting potential oil drilling in the designated area. The bill requires the Secretary of the Interior to administer the newly designated wilderness area under the Wilderness Act, treating it as part of the existing wilderness within ANWR. The change prevents future oil and gas development on this specific portion of the refuge.
Geothermal Energy Opportunity Act or the GEO Act This bill expands the Geothermal Steam Act of 1970 to establish a deadline for the Department of the Interior to process applications related to geothermal leases. Specifically, Interior must process each application for a geothermal drilling permit or other authorization under a valid existing geothermal lease within 60 days after completing all requirements under applicable federal laws and regulations (including the National Environmental Policy Act of 1969, the Endangered Species Act of 1973, and the National Historic Preservation Act) unless a U.S. federal court vacates or provides injunctive relief for the underlying lease.
This bill modifies tax code provisions to benefit energy producers. It allows oil and gas companies to deduct intangible drilling and development costs more favorably when calculating taxable income, by disregarding depreciation and depletion expenses already reflected on their financial statements. The change applies to taxable years beginning after December 31, 2025. This directly affects domestic energy producers who incur these specific drilling costs.
