(The Center Square) – U.S. Sen. Ted Cruz, R-TX, filed a new bill to bolster U.S. energy production, led by the Texas oil and natural gas industry.
Cruz on Thursday filed a bill to repeal a tax on natural gas imposed on the industry through the Inflation Reduction Act. The IRA solely passed with Democratic support and imposed several new taxes and regulations on the U.S. oil and natural gas industry.
“Democratic policies have forced Americans to endure historic inflation and economic pain, and have jeopardized American energy independence and national security,” Cruz said. “It’s time to unleash American energy. The 2024 election was a mandate for new policies.”
Cruz’s bill would eliminate “what would be a crippling tax” on the U.S. natural gas industry. If signed into law, it would repeal Section 136 of the Clean Air Act related to a methane emissions and waste reduction incentive program for petroleum and natural gas.
On Friday, Cruz filed a bill to repeal executive orders Biden issued this month that ban offshore drilling exploration on more than 625 million acres of offshore territory. Both of his bills have several Republican cosponsors.
“President Biden’s ban on new offshore oil and gas drilling is an attack on American energy independence, jobs, and national security,” he said. “His action is a gift to our adversaries and once again confirms that this President has failed to protect the livelihood of American energy workers.”
With only two weeks left in office, Biden issued unprecedented sweeping orders banning new offshore oil and gas drilling in federal waters on the East and West Coasts, eastern Gulf of Mexico, and part of Alaska’s Northern Bering Sea.
Cruz’s bill would rescind two orders Biden issued on Jan. 6. One is Biden’s “Memorandum on the Withdrawal of Certain Areas of the United States Outer Continental Shelf from Oil or Natural Gas Leasing,” related to the Gulf of Mexico, Atlantic, and Pacific areas of the outer Continental Shelf. The other is a “Memorandum on the Withdrawal of Certain Areas of the United States Outer Continental Shelf from Oil or Natural Gas Leasing,” related to the Bering Sea areas of the outer Continental Shelf.
Under President Donald Trump, the U.S. achieved energy dominance led by Texas. Despite Biden administration actions taken to stifle production in the Permian Basin in west Texas and in the Gulf of Mexico, Texas producers set production and emissions reduction records, The Center Square reported.
Texas continues to break records in production and emissions reductions because the industry has the full support of Gov. Greg Abbott, the Texas legislature and state government, production primarily occurs on private land, minimizing federal interference, and the industry leads in technological advancements, industry advocates have explained to The Center Square.
Texas’ crude oil production represents 44% of the national total; its natural gas marketed production accounted for nearly 30% of national production last year. Methane emissions from oil and natural gas production operations in the Permian Basin alone decreased 26% in one year, equal to the total amount of carbon emissions avoided by every electric vehicle on the road in the U.S. last year, The Center Square reported.
This article was originally published at www.thecentersquare.com
