Sens. Hickenlooper and Tillis Release Bipartisan Critical Minerals Bills: Last Friday, Sens. John Hickenlooper (D-CO) and Thom Tillis (R-NC) released the National Critical Minerals Council Act and Unearth Innovation Act. The first would establish a government council on mineral strategy; the second would fund a Department of Energy program to drive research and commercial investments. Sen. Hickenlooper directly addressed China cornering the minerals market in his statements on the bills.  

Oil and Gas Royalty Bill Set to Become Law: Last Wednesday, the U.S. Senate passed the Royalty Resiliency Act by unanimous consent; the act modifies the process under which oil and gas leaseholders who enter into certain joint drilling agreements with the Interior Department. The bill not only alters the process, but also requires the Office of Natural Resources Revenue to expedite agreement decision making.  

Senate Committee Questions DOE AI Strategy: Last Thursday, the Senate Energy and Natural Resources Committee questioned Department of Energy officials on the administration's ability to keep up with global artificial intelligence innovation and the strain it puts on the grid. Committee Chair Joe Manchin (I-WV) stated support for his Department of Energy AI Act, which would fund more AI research and encourage the technology to streamline the bureaucracy, including on permitting.

House Leadership to Vote on “Woke” ESG Bills: Announced on Monday, House leadership placed the Prioritizing Economic Growth Over Woke Policies Act and Protecting Americans’ Investments from Woke Policies Act on the House Floor slate for this week. The former bill would require that fiduciaries base their investment decisions for retirement funds solely on factors that have to do with the investments’ financial performance.  The latter would limit the requirement of companies to disclosure their ESG impact. Neither have any chance of passage in the Senate.  

DOE Releases Report on Nuclear Energy Potential: Last Thursday, the Department of Energy released a report on potential U.S. nuclear energy capacity, saying there are 40 potential sites where operating or recently retired nuclear plants have room for additional reactors. The report says the U.S. clean energy goals demand for at least 300GW of nuclear power in the next decade, up from the 96GW in service today.  

White House Finalizes Tariff Increases on Chinese Energy Products: Last Friday, the White House enacted the Office of the U.S. Trade Representative’s sharp tariff increases on Chinese EVs, solar panels, and batteries. Under the plan, Section 301 tariffs for electric vehicles will increase to 100 percent, while tariffs on solar cells will increase from 25 percent to 50 percent and lithium-ion batteries will increase to 25 percent.

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