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S 1030119th CongressIntroduced
Stop Giving Big Oil Free Money Act
Introduced: Oct 28, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Stop Giving Big Oil Free Money Act prohibits the Secretary of the Interior from issuing new Gulf of Mexico oil or gas leases unless the lessee renegotiates existing leases to include royalty payment thresholds tied to market prices. It also restricts transfer of covered leases and sets specific price thresholds for royalty suspension.
Key Points
- 1New leases require renegotiation of existing leases to include royalty thresholds.
- 2Covered leases are defined and excluded if they meet certain royalty relief limits.
- 3Transfers of covered leases are prohibited unless renegotiated.
- 4Price thresholds for royalty suspension are specified.
- 5Interagency cooperation with the Secretary of Agriculture and Customs is required.
Impact Areas
Oil and gas companies in the Gulf of MexicoSecretary of the Interior and related agenciesTaxpayers and federal revenueEnvironmental and regulatory stakeholders
Generated by openai/gpt-oss-20b:free on Nov 20, 2025