(World Oil)– The U.S. Senate on Tuesday voted to narrowly approve President Trump’s $3.3 trillion tax and spending package dubbed the ‘One Big Beautiful Bill.’ U.S. energy associations including the API, IPAA, NOIA and EWTC issued separate statements acknowledging the Senate’s decision as a victory for the U.S. oil and gas industry.
“We applaud the Senate for passing the One Big Beautiful Bill to bolster America’s energy advantage and support economic growth,” said American Petroleum Institute (API) President and CEO Mike Sommers. “This historic legislation will help usher in a new era of energy dominance by unlocking opportunities for investment, opening lease sales and expanding access to oil and natural gas development. We will continue to work with policymakers to get this final package to President Trump’s desk.”
“IPAA is pleased that the legislation reinstates oil and natural gas lease sales for onshore and offshore federal lands and makes common sense reforms to the permitting and leasing process on federal lands,” said Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman. “IPAA members, the small businesses of the oil patch, are grateful that industry tax treatments including intangible drilling costs and percentage depletion were protected, along with carried interest deductions being preserved.”
“The OBBBA represents decisive, long-overdue action to restore certainty and opportunity in the Gulf of America,” said National Ocean Industries Association (NOIA) President Erik Milito. “It delivers leasing stability, finally ending years of policy whiplash and reaffirming the Gulf’s critical role in advancing American energy dominance, economic growth, and national security.”
“Energy security is national security,” Milito continued. “Producing energy at home reduces reliance on foreign adversaries and projects American strength. The Gulf of America’s vast oil and gas reserves are essential to our strategic and economic stability. Just as importantly, Gulf energy helps keep costs down for working families, making life more affordable nationwide.”
The Energy Workforce & Technology Council (EWTC) also issued a statement, remarking that “By reinstating and reforming the vital offshore and onshore lease sales and delaying the implementation of the methane fee, the bill protects the industry’s ability to invest in projects, support job growth, and ensure American energy dominance. It also strengthens the foundation for increased demand in energy services and technology, driving field activity, rig mobilization, and workforce deployment across the supply chain.”
“Reliable energy starts with reliable policy,” said Energy Workforce President Tim Tarpley. “This bill gives our member companies the stability they need to invest, innovate, and keep America’s energy workforce on the job. The energy services sector is mobilized, equipped, and ready to power the next wave of American energy. Uncertainty over federal energy policy, including the leasing program clouded long term planning and investment during the prior administration and I am glad to see that over.”
“We urge the House to act quickly act to send this bill to the President’s desk,” the EWTC continued. “We look forward to continuing to work with both the House and Senate on other issues that could not make it into this bill such as permitting reform which continues to be vital to American energy dominance.”
