Peace Garden News

Senator John Hoeven held a press conference in Bismarck, North Dakota, alongside Representative Julie Fedorchak and Senator Kevin Cramer to discuss the One Big Beautiful Bill (OBBB). The proposed legislation is intended to promote U.S. energy production by encouraging cooperation between the coal, oil, and gas industries.

The bill aims to increase access to federal oil, gas, and coal reserves by requiring the Interior Department to hold quarterly lease sales for oil and gas and act promptly on new coal lease applications. It also mandates opening an additional 4 million acres of known recoverable federal coal reserves for leasing.

Key provisions of the OBBB include rolling back policies from the Biden administration's Green New Deal initiatives. The bill proposes stopping the Inflation Reduction Act fee on oil and gas production—referred to as the Natural Gas Tax—for ten years. It also seeks to reduce federal royalty rates for oil, gas, and coal production to levels prior to the Inflation Reduction Act. Additionally, it aligns incentives for partnerships between coal and oil producers with the goal of keeping coal-fired power plants operational longer while maximizing output from oil and gas wells, including those in the Bakken region.

Senator Hoeven stated: “Between the regulatory and tax relief we’ve provided in President Trump’s One Big Beautiful Bill, we’re securing the future of energy production in North Dakota, supporting the stability of our electrical grid by keeping our coal plants online and helping make the U.S. truly energy dominant,” said Hoeven. “Importantly, we’re stopping the Green New Deal policies from the last administration and taking the handcuffs off of energy production on federal lands. At the same time, we’re supporting partnerships between coal, oil and gas producers that will secure the future of energy production in North Dakota and across the nation. That’s how you ensure we can meet the demands of emerging industries, like AI, while ensuring affordable and reliable energy for American consumers and businesses.”