Central ND News

Senator John Hoeven held a press conference in Bismarck, North Dakota, with Representative Julie Fedorchak and Senator Kevin Cramer. During the event, Hoeven explained how the One Big Beautiful Bill (OBBB) aims to establish U.S. energy dominance by encouraging collaboration between the coal and oil and gas industries. The bill is designed to stabilize the electrical grid and boost energy production using America's resources.

The proposed legislation would unlock taxpayer-owned oil, gas, and coal reserves. Specifically, it mandates the Interior Department to conduct quarterly lease sales for oil and gas, promptly act on new coal lease applications, and open an additional 4 million acres of federal coal reserves for leasing.

The bill also seeks to reverse certain policies from the Biden administration's Green New Deal. It proposes stopping the Inflation Reduction Act fee on oil and gas production for ten years—a move that Hoeven has championed in the Senate—and reducing federal royalty rates for oil, gas, and coal production to pre-IRA levels. Furthermore, it aligns incentives to foster partnerships between coal and oil producers, supporting extended operations of coal-fired power plants while maximizing oil and gas well potential.

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.” He emphasized halting Green New Deal policies from previous administrations as a key step in promoting energy production on federal lands. Hoeven highlighted that these efforts would ensure affordable and reliable energy supply for emerging industries like AI while benefiting American consumers and businesses.