IPAA: 'One Big, Beautiful Bill' Remains A Win For American Energy'

Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following passage of the budget reconciliation bill in the U.S. Senate:

“President Trump’s ‘One Big, Beautiful Bill’ remains a win for American energy. The bill passed today improves the ability of independent oil and natural gas producers to supply reliable, affordable energy to the American people.

“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. 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.

“While we are disappointed that the legislation does not include a full repeal of the Methane Emissions Reduction Program (MERP) including the methane tax, as we have consistently argued for and will continue to, the 10-year delay of the MERP provides time to for legislators to work with regulators and industry to craft an alternate solution that makes sense for smaller producers.

“Independent producers congratulate Majority Leader Thune and Senate leadership for uniting their members on the legislation. IPAA urges quick, unified action to send the OBBB to President Trump for his signature as soon as possible.”

IPAA worked closely with national groups including the U.S. Chamber of Commerce and National Association of Manufacturers to advocate in support of the One Big Beautiful Bill Act, including for the permanent extension of tax reforms in the 2017 Tax Cuts and Jobs Act (TCJA). IPAA CEO Eshelman is a member of the US Chamber of Commerce’s “Committee of 100” and the National Association of Manufacturers’ “Council of Manufacturing Associations.”