Louisiana Gov. Signs Bill Killing Lawsuits Against Oil and Gas Companies

Senate Committee Unveils Energy Policy Modernization Act

The U.S. Senate Committee on Energy and Natural Resources on July 22 introduced the Energy Policy Modernization Act of 2015, a bill that addresses a wide range of U.S. energy sector issues, including the strategic petroleum reserve and applications for the export of natural gas.

“After months of working together, the bipartisan legislation we introduced today marks a critical step toward the modernization of our federal energy policies,” Sen. Lisa Murkowski (R-Alaska), chairman of the committee, said in a July 22 statement. “By focusing on areas where agreement was possible, we have assembled a robust bill with priorities from many senators that will promote our economic growth, national security, and global competitiveness.”

Introduction of the bill follows a series of hearings held earlier this year by the committee to receive testimony on energy-related bills introduced in the 114th Congress.

The bill would amend the Energy Policy and Conservation Act to require the U.S. Department of Energy to notify Congress prior to any Strategic Petroleum Reserve (SPR) test sale, with an exception for emergency drawdowns, and to submit a report following any sale.

In addition, the bill would require the Secretary of Energy to issue a final decision, approving or disapproving, any application to export natural gas to countries that do not have free trade agreements with the U.S. no later than 45 days after the Federal Energy Regulatory Commission or Maritime Administration concluded a review under the National Environmental Policy Act.

3 Ways Technology is Going to Shape the Oil and Gas Industry Free to Download Today

Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.

Related posts

Subscribe to OILMAN TodayDelivered to your inbox

Subscribe to OILMAN Today, a biweekly newsletter delivered to your inbox covering oil and gas business news, current events and industry information you need to know about.