The bill S. 1030, titled the "Stop Giving Big Oil Free Money Act," aims to restrict the issuance of new oil or natural gas production leases in the Gulf of Mexico. It requires companies with existing leases to renegotiate terms to ensure they pay royalties if oil and gas...
Simple Explanation
This bill wants to make sure that if big companies who drill for oil or gas in the Gulf of Mexico want new places to drill, they must agree to pay extra money if the prices go up, like a fair share when things are more expensive.