The “One Big Beautiful Bill Act” represents a sweeping overhaul of U.S. energy policy, aimed at reshaping the federal government’s role in energy markets and reversing key provisions of the Inflation Reduction Act. With a clear emphasis on fossil fuel production and energy independence, the legislation mandates new oil and gas lease sales across federal lands and offshore areas, revives tax advantages for producers, and loosens regulatory burdens that had previously constrained the...

Currents is a weekly podcast produced by our sister organization the Institute for Energy Research (IER) that recaps the latest news from the world of energy and research from IER. Last week AEA's Vice-President of Policy Kenny Stein, joined the show for a special episode reviewing the energy provisions of the recently passed One Big Beautiful Bill Act.

The “One Big Beautiful Bill Act” represents a sweeping overhaul of U.S. energy policy, aimed at reshaping the federal government’s role in energy markets and reversing key provisions of the Inflation Reduction Act. With a clear emphasis on fossil fuel production and energy independence, the legislation mandates new oil and gas lease sales across federal lands and offshore areas, revives tax advantages for producers, and loosens regulatory burdens that had previously constrained the...

The Senate has passed its version of President Trump’s big beautiful bill (BBB), which maintains tax credits for hydrogen, carbon capture, nuclear energy, and geothermal, boosts onshore and offshore drilling, weakens fuel economy regulations, delays a methane emissions fee, and speeds up environmental reviews for paying companies, but makes less funds available for refilling the Strategic Petroleum Reserve than the House version. The Senate removed a proposed excise tax  on wind and solar...

On Monday, June 30th the American Energy Alliance, along with the Competitive Enterprise Institute, sent a joint letter to the Senate urging senators to uphold President Trump's campaign commitment to eliminate all remaining energy subsidies from the Inflation Reduction Act (IRA), which he aptly has called the “Green New Scam.” The text of the letter is available below.

Dear Senator:

In 2022, Democrats passed a radical plan to change how Americans use and consume energy....

On Monday, June 23rd a coalition of twenty-six individuals and organizations dedicated to preserving free markets and putting taxpayers and consumers first, led by the American Energy Alliance, sent a letter to President Trump urging him to encourage Congress to uphold his campaign commitment to eliminate all remaining energy subsidies from the Inflation Reduction Act (IRA), which he aptly has called the “Green New Scam.” The text of the letter and list of signers is available below.

The Inflation Reduction Act of 2022 (IRA), President Biden’s signature climate bill, passed solely by Democrats, contains lucrative, essentially uncapped subsidies for wind and solar-generated power. Under current law, the tax credits phase out over four years, starting in either 2032 or when the U.S. power sector’s greenhouse gas emissions fall to a quarter of their 2022 levels — whichever comes later. An essentially uncapped phase-out defies the original purpose of tax credits,...

The Senate Finance Committee released its draft legislation of the reconciliation bill on Monday and, although the main structure of the bill remains the same as the house version, there are some notable differences in some of its energy provisions. Unfortunately, some of these differences are steps backward in that they replace the House bill’s strict repeals with softer language that allows companies to keep receiving tax credits past the end of President Trump’s time in office....

Despite being the seventh-largest producer of crude oil and third in refining capacity, California continues to demonstrate a desire for self-destruction with its anti-oil and gas stance. California’s aggressive push for destructive energy policies has already resulted in the closure of oil refineries and even the promised relocation of oil major Chevron to friendlier Houston Texas. The closure of refineries statewide will put pressure on California’s ability to provide gasoline to its...

Early Thursday morning, the House passed its version of the Republican reconciliation legislation package. The two main goals of the legislation are extending the 2017 Tax Cuts and Jobs Act and rolling back the 2022 Inflation Reduction Act (IRA). Republicans made a lot of changes over the past week, with conservative members of the House achieving important changes to the bill.  Late changes accelerated some of the energy subsidy phase-outs, leaving a package that, while far from perfect,...