Ending Taxpayer Welfare for Oil and Gas Companies Act of 2021

Ending Taxpayer Welfare for Oil and Gas Companies Act of 2021

This bill addresses royalties related to the development of federal energy resources.

Among other requirements, the bill

• increases the onshore royalty rates for new oil, gas, and coal leases;
• increases onshore rental rates for oil and gas leasing;
• modifies the current onshore oil and gas minimum bid from $2 to $10 and requires it to be adjusted every four years for inflation; and
• increases inspection fees and penalties on oil and gas operators.