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IPAA - Independent Petroleum Association of America

07/04/2025 | Press release | Distributed by Public on 07/04/2025 12:41

IPAA Celebrates Win for American Energy with One Big Beautiful Bill

Jul 4, 2025IPAA Celebrates Win for American Energy with One Big Beautiful Bill

Posted at 13:08hin Press Releases by Jennifer Pett

WASHINGTON - Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following statement ahead of President Trump signing the One Big Beautiful Bill Act:

"Today, on America's birthday, IPAA congratulates President Trump and Congress on the success of the One Big Beautiful Bill.

"In IPAA's transition memo to the incoming administration, we urged President Trump to take positive actions to support America's small oil and natural gas producers and develop a robust energy policy that will unleash American entrepreneurs, expand our economy, and make the United States an energy superpower once again. This budget reconciliation bill does just that - making significant strides to Make American Energy Great Again.

"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 pathway that makes sense for smaller producers.

"America's independent oil and natural gas producers play a critical role in our country's domestic energy development, and we look forward to continued collaboration with the administration and Congress to find innovative solutions to address America's energy challenges."

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 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."

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