President Donald Trump’s Big Beautiful Bill ends President Joe Biden’s war on American energy production.
Now that Congress passed the Big Beautiful Bill and Trump signed the bill into office, the law will seek to boost American energy production while ending Biden’s onerous policies that sought to stifle domestic energy production.
WATCH — Trump Signs Big Beautiful Bill into Law at White House:
This includes ending the wind and solar tax credit subsidies by setting a “placed-in-service” date for December 31, 2027. Ending the subsidies helps save hundreds of billions of dollars and refocuses the country’s efforts on more reliable energy sources.
The legislation scraps many of the Democrats’ Inflation Reduction Act (IRA) policies that set higher fees and rates for energy production. This includes:
- Reducing onshore royalty rates back to the pre-IRA rates of 12.5 percent from 16.67 percent
- Cutting offshore royalty rates to pre-IRA rates of 12.5 percent to make American energy production more competitive across the world
- Eliminating methane extraction royalties
- Bringing down coal royalty rates from 12.5 percent to 7 percent through 2034
In contrast to the Trump administration, Mike Sommers, the president and CEO of API, noted at a policy event with Breitbart News in June that there were only two lease sales in the Gulf of America during the Biden administration, and that was only at the behest of then-Sen. Joe Manchin (D-WV) during the crafting of the Inflation Reduction Act.
For instance, Trump’s landmark legislation creates a new Loan Programs Office (LPO) Energy Dominance Financing Program at the Department of Energy (DOE) with $1 billion to develop key energy and critical minerals infrastructure projects.
The bill also seeks to ensure that the United States wins the artificial intelligence race; it provides $150 billion for the DOE’s AI for Science initiative at the DOE National Labs and $115 million for the DOE AI for Nuclear Security Initiative. Both projects hope to develop new energy technologies for more innovation.
The Big Beautiful Bill provides $3.5 billion for the Department of Energy-National Nuclear Security Administration (NNSA) to boost the country’s nuclear weapons modernization capabilities.
The legislation sets up a dramatic expansion of domestic energy production by:
- Mandating quarterly oil and gas lease sales across nine western states for ten years
- Requiring biannual Gulf of America lease sales for 15 years
- Opening the Cook Inlet in Alaska with six lease sales for ten years to develop at least one million acres for energy production
- Activating the Artic National Wildlife Refuge Coastal Plain with four lease sales
- Expanding the National Petroleum Reserve-Alaska with five lease sales over ten years
- Expanding coal leasing with four million additional acres
- Scrapping Expression of Interest fees that often discouraged exploration
- Extending drilling permits to four years from three years
The Big Beautiful Bill marks a “new era” of American energy dominance, American Petroleum Institute expert Dustin Meyer told Breitbart News last week.
Meyer said the bill marks “a new era of resource development on federal lands and waters here in the US. It’s a pretty sharp departure from how things have been done in the past.”
Sean Moran is a policy reporter for Breitbart News. Follow him on X @SeanMoran3.
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