As posted on the Web site of the House Committee on Rules (Committee Print 112-24).
The Congressional Budget Office has prepared the enclosed cost estimate for H.R. 4480, the Strategic Energy Production Act of 2012, as posted on the Web site of the House Committee on Rules (Committee Print 112-24). CBO estimates that enacting the bill would reduce direct spending by $385 million over the 2013-2022 period; therefore, pay-as-you-go procedures apply. Enacting the bill would not affect revenues. In addition, CBO estimates that implementing the bill would cost $189 million over the 2013-2017 period, assuming appropriation of the necessary amounts. The bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.
H.R. 4480 would establish certain fees for activities related to the development of oil and gas on federal lands. The bill also would direct the Secretary of the Interior to take actions aimed at facilitating onshore oil and gas leasing and production on federal lands; direct the Department of Energy to develop a plan to increase the amount of acreage leased for oil and gas development on federal lands if the department sells oil from the Strategic Oil Reserve; and establish an interagency committee to analyze the impact of certain rules and actions taken by the Environmental Protection Agency on gasoline, diesel fuel, and natural gas prices.
H.R. 4480 combines five bills approved by the House Committee on Natural Resources and two bills approved by the House Committee on Energy and Commerce. CBO has prepared cost estimates for the following bills: