Senator Manchin introduces new U.S. energy permitting bill

Published 2023-05-02, 06:06 a/m
© Reuters. FILE PHOTO: U.S. Senator Joe Manchin (D-WV) speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike Blake/File Photo
ENRY
-

By Timothy Gardner

WASHINGTON (Reuters) - U.S. Senator Joe Manchin introduced on Tuesday his latest measure to speed permitting of both fossil fuel and renewable energy projects, as he tries to win support from both major parties after similar bills failed several times last year.

The legislation, Building American Energy Security Act, sets a two-year limit on environmental reviews of major federal energy projects and one year for smaller ones, reduces court delays over energy projects, and directs the U.S. president to designate at least 25 high level energy projects and prioritize their permitting.

"There is overwhelming bipartisan recognition that our current permitting processes aren't working, and equally bipartisan support for addressing it through comprehensive permitting reform legislation," Manchin, a conservative Democrat from coal- and gas-rich West Virginia, said in a release.

The bill also calls for completion of Equitrans Midstream Corp's Mountain Valley Pipeline, that would run through Manchin's state. The $6.6 billion, 300 mile (480 km), natural gas project is mostly built, but still needs several permits.

Environmental groups and some of Manchin's fellow Democratic lawmakers had slammed his previous permitting measures as handouts to fossil fuel companies, which contributed to last year's failures.

And Republicans who were angry with Manchin for supporting President Joe Biden's climate legislation did not support his bill last year.

But clean energy advocates have said the legislation, which would speed power transmission projects, is key to implementing an energy transition supported by last year's Inflation Reduction Act that had $369 billion in tax breaks and other incentives to help combat climate change.

© Reuters. FILE PHOTO: U.S. Senator Joe Manchin (D-WV) speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike Blake/File Photo

And Manchin could get support from some Republicans in the Senate, currently controlled by Democrats, whose states would benefit from energy projects.

The House, controlled by Republicans, passed an energy reform bill March 30 intended to boost oil and gas and scale back climate initiatives. The House would likely have to drop many of those provisions for the bill to progress. To become law, the legislation would have to pass both chambers and be signed by Biden.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.