Declaration of Energy Independence Act

# Declaration of Energy Independence Act Summary **What the Bill Does:** This bill would make it cheaper for oil and gas companies to lease and develop federal lands for energy production. Specifically, it would lower the royalty rate (the percentage of profits the government collects) from 16.7% to 12.5%, reduce minimum bid prices from $10 to $2 per acre, and cut annual rental rates from up to $15 to $1.50-$2 per acre. The bill would also eliminate application fees and allow some leases to be awarded without competitive bidding. **Who It Affects:** Oil and gas companies would benefit from lower costs to develop federal lands, while the federal government and public would receive less revenue from these leases.

Taxpayers effectively subsidize energy companies since public lands generate less income. Environmentalists and conservation groups typically oppose such measures, while industry advocates support reducing regulatory costs. **Current Status:** The bill was introduced by Representative Andrew Ogles (R-TN) in the 119th Congress and is currently in committee, meaning it has not yet been debated or voted on by the full House. It remains in the early legislative process with no guarantee of passage.