January 31, 2023

The House voted unanimously to approve this bill that permits a delay in the liquidation of an investment security if the company reasonably believes the redemption involves the financial exploitation of a senior or individual age 18 or older who is unable to protect his or her own interests. 

Today concluded voting on amendments to the Strategic Production Response Act (H.R. 21), and a vote was taken on the bill itself. As noted, this bill is largely a messaging platform and is highly unlikely to be passed into law. In summary, H.R. 21 requires the Federal government to increase the amount of public land available to lease for oil and gas extraction in the same percentage as any drawdown in the Strategic Petroleum Reserve (SPR). It is seen as an attack on President Biden's decision to use SPR oil to help decrease U.S. gas prices when they were at their peak. If this bill were to pass, it could increase energy prices in the short term.

All amendments that were voted on January 27 are listed at the bottom of this post. Congressman Molinaro voted "NO" on each, except for one vote that he skipped. Since Molinaro did not support any amendments, it's difficult to understand his analysis, but it is worth noting that Molinaro opposed amendments to:

• Protect the New York coastline
• Prevent price gouging by oil companies
• Ensure that new oil and gas production stays in the U.S. to reduce domestic prices
• Allow immediate SPR drawdowns to protect national security
• Protect homes, hospitals and schools from drilling within 3,200 feet
• Prevent the bill from raising energy costs for homeowners with oil heat
• Keep oil and gas drilling out of National Parks

He voted FOR the bill itself. 

Significant Amendments

No. 67 - Eliminates the requirement to issue new leases on federal land if oil producers export more petroleum than was drawn down from the SPR. This helps to keep supply in the US high and prevent oil companies sending production from new Federal leases overseas. On keeping American energy for use in America, MOLINARO VOTED NO

Nos. 63, 81 - Requires that the Secretary of Energy publish an analysis of the number of unused current leases available to oil and gas drillers on Federal land prior to issuance of new leases that would remove more land from public use. The amendment sponsor identified 9,000 unused leases on 26 million acres of public land. MOLINARO VOTED NO

No. 24 - Prohibits new H.R. 21 drilling leases within 3,200 feet of a home, school or hospital. On the question of protecting these areas, MOLINARO VOTED NO 

No. 135 - Prohibits new H.R. 21 drilling leases on the Outer Continental Shelf off the coast of New York and neighboring states. MOLINARO VOTED NO on protecting these waters.

No. 145 - Prohibits new H.R. 21 drilling leases on protected lands, such as National Parks, the National Wildlife Refuge System, and national conservation areas. MOLINARO VOTED NO on protecting these lands.

No. 92 - Prevents oil and gas companies that participated in price gouging in 2021-2022 from acquiring leases offered under H.R. 21. MOLINARO VOTED NO on the amendment, choosing to permit these companies to acquire H.R. 21 leases.

No. 58 - Requires that the Secretary of Energy determine that any delay in releasing SPR oil due to new rules in H.R. 21 does not negatively impact consumers who use oil to heat their homes.  MOLINARO VOTED NO 

No. 46 - Permits immediate SPR drawdowns to protect national security.  MOLINARO VOTED NO 

No. 59 - States that nothing in H.R. 21 prohibits the President from drawing petroleum from the SPR to reduce gas prices. MOLINARO VOTED NO 

No. 60 - Ensures that H.R. 21 does not increase consumer gas prices by causing a delay in a release from the SPR. MOLINARO VOTED NO

No. 77 - Allows an SPR release without delay if a delay would increase inflation. MOLINARO VOTED NO

No. 36 - Permits the SPR to continue to conduct test releases to maintain readiness. MOLINARO VOTED NO

No. 74 - Excludes any companies that have executed stock buybacks in the last ten years from participating in H.R. 21 lease purchases. MOLINARO VOTED NO

No. 131 - Prohibits the sale of H.R. 21 drilling leases in the Great Lakes, which - to this point - have been protected from oil and gas production.  MOLINARO SKIPPED THE VOTE

Nos. 72 and 73 - Requiring that this bill support U.S. environmental goals and not increase its greenhouse gas emissions. MOLINARO VOTED NO 

No. 66 - Requires that any oil and gas company that secures a new lease under this bill would provide a plan for reducing pollution and greenhouse gases. MOLINARO VOTED NO

No. 32 - Requires that the Secretary of Energy determine H.R. 21 would not increase energy prices for U.S. consumers. MOLINARO VOTED NO

Other Amendments

No. 35 - Ensures that the SPR will continue to provide short-term "loans" of oil during temporary disruptions that are quickly replaced. MOLINARO VOTED NO

No. 61 - Permits SPR drawdowns that are profitable and eliminates requirements for new leases in those cases. MOLINARO VOTED NO

No. 84 - Requires the Secretary of Energy certifiy that any new leases will not "perpetuate environmental injustice." MOLINARO VOTED NO

No. 76 - States that nothing in H.R. 21 controverts "the fact that communities of color and low-wealth communities face the greatest harms due to climate change." MOLINARO VOTED NO

No. 70 - Prohibits new H.R. 21 drilling leases in the offshore Mid-Atlantic planning area. MOLINARO VOTED NO

No. 75 - Prohibits new H.R. 21 drilling leases in Big Cypress National Preserve. MOLINARO VOTED NO

No. 27 - Prohibits new H.R. 21 drilling leases on the Outer Continental Shelf. MOLINARO VOTED NO

No. 79 - Prohibits new H.R. 21 drilling leases off the Washington/Oregon coast is they would affect fishing areas. MOLINARO VOTED NO

No. 68 - Limits new H.R. 21 drilling leases to oil only, and not natural gas. MOLINARO VOTED NO

No. 25 - Excludes land from H.R. 21 leasing that is unlikely to have oil or gas deposits. MOLINARO VOTED NO

No. 68 - Prohibits oil companies from exercising certain tax benefits and participating in H.R. 21 lease purchases. MOLINARO VOTED NO

No. 64 - Encourages the Department of Energy to restock the SPR with oil produced domestically. MOLINARO VOTED NO

No. 4 - Prohibits H.R. 21 drilling leases in areas that have significant numbers of abandoned oil and gas wells that still require remediation. MOLINARO VOTED NO 

Today's voting activity was entirely comprised of votes on amendments to H.R. 21 - The Strategic Production Response Act. This bill is largely a messaging platform and is highly unlikely to be passed into law. In summary, H.R. 21 requires the Federal government to increase the amount of public land available to lease for oil and gas extraction in the same percentage as any drawdown in the Strategic Petroleum Reserve (SPR). It is seen as an attack on President Biden's decision to use SPR oil to help decrease U.S. gas prices when they were at their peak.

The bill is problematic in a number of ways, including the fact that there is substantial unexploited Federal land already available for oil and gas production, the fact it carves out exceptions for severe emergencies (which circumstances around the war in Ukraine would likely qualify) and the fact that the percentage drawdown in SPR and percentage increase in leasable land are two numbers that have no logical connection to each other.

Below are all of the amendments that were voted on January 26. Additional amendments are scheduled for January 27.

Significant Amendments

No. 71 - Requiring that this bill support U.S. environmental goals and not undermine the country from meeting its greenhouse gas reduction target. On the question of supporting climate goals, MOLINARO VOTED NO

No. 33 - Proposed by Congresswoman Boebert, this amendment expands the amount of Federal land made available for drilling under this legislation from 300 million acres to 450 million acres. For perspective, New York state is approximately 35 million acres in size. On the question of increasing drillable land to 450 million acres, MOLINARO VOTED YES

No. 89 - Prohibits any party awarded new drilling leases under H.R. 21 from price gouging U.S. consumers by selling new production at excessive prices. MOLINARO VOTED NO

No. 104 - Proposed by New Jersey Congressman Pallone, prohibits new H.R. 21 drilling leases from the coastline area of Northeastern states including New York due to the dangers to the fishing and tourism industries, and lack of public support. On the question of protecting the New York coastline, MOLINARO VOTED NO

No. 3 - Proposed by Florida Congresswoman Castor, prohibits new H.R. 21 drilling leases from the coastline area of Florida, which has been the subject of a drilling moratorium for several years. Florida citizens reaffirmed their opposition to drilling in a recent state referendum. On the question of protecting the Florida coastline, MOLINARO VOTED NO

No. 65 - This amendment would prohibit any new leases awarded under this legislation from decreasing the land and water available for outdoor recreation. MOLINARO VOTED NO

No. 21 - Prohibits any leases awarded under H.R. 21 that would not provide a fair return for taxpayers. On the question of protecting taxpayers from "sweetheart" deals for drillers, MOLINARO VOTED NO

No. 50 - Requires that the Secretary of Energy certify that increased drilling leases are required to replenish the SPR to 2022 levels before awarding H.R. 21 leases. MOLINARO VOTED NO

No. 53 - Would prohibit leases that would lead to higher greenhouse gas emissions. MOLINARO VOTED NO

No. 55 - Would require consultation with Native American tribes for drilling that would impact their land. MOLINARO VOTED NO

No. 129 - Limits new leases on Federal land to those operations that would not negatively impact air quality. On the question of protecting air quality, MOLINARO VOTED NO

Other Amendments

No. 133 - Affirms that this law would not invalidate existing drilling moratoriums. MOLINARO VOTED YES

No. 2 - Prohibits the President from declaring an energy crisis. MOLINARO VOTED NO

No. 44 - Delays implementation of this bill until the Department of Energy furnishes a report. MOLINARO VOTED NO

No. 29 - Prohibits new H.R. 21 drilling leases from the coastline area of Virginia. MOLINARO VOTED NO

Nos. 15, 26 and 18 - Prohibits new H.R. 21 drilling leases from the coastline area of Northern, Central and Southern California. MOLINARO VOTED NO

No. 7 - Prohibits new H.R. 21 drilling leases from the coastline area of Washington and Oregon. MOLINARO VOTED NO

No. 56 - Prohibits new leasing that would result in or exacerbate disproportionate burdens on communities of color, low-income communities, and Tribal and Indigenous communities. MOLINARO VOTED NO

No. 57 - Prohibits leasing new land that is viable for renewable energy production. MOLINARO VOTED NO

No. 85 and 86 - Requires that the Secretary of Energy ensure that China, Russia, Iran and North Korea do not benefit from leases granted under H.R. 21. MOLINARO VOTED YES

Molinaro voted FOR these three bills that passed the House with wide margins. 

H.R. 346 establishes an FAA task force to recommend improvements to the air traffic alert system for pilots.

H.R. 400, introduced by Democrat Representative Judy Chu, authorizes certain banking entities to invest up to 15% of their capital and surplus small business investment companies. The current limit is 5%. 

H. Res. 7 commends the bravery of Iranian citizens who are protesting their government's attacks on free expression and civil liberties.

Molinaro voted FOR two bills that passed the House easily. They were the only two votes for January 24.

H.R. 300 requires that information concerning civil settlements entered into by the government are logged into a public database. It passed unanimously.

H.R. 159 permits hiring managers within the government to substitute work experience or a skills test for a college degree when considering applicants for some positions. It passed 422-2.

Molinaro voted FOR this bill that would prevent oil from the Strategic Petroleum Reserve (SPR) from being sold to China.

Largely a messaging bill rather than a practical one, H.R. 22 prohibits the sale of SPR oil to China. As a fully fungible commodity, it may be impossible to track SPR oil as it makes its way through the global marketplace and this bill provides no mechanism to do so. It is worth noting that US oil companies legally export approximately 250 million barrels of oil directly to China each year, which is significantly more than the total drawdown in the SPR in 2022.