H.R. 2053, titled the "Stop Giving Big Oil Free Money Act," aims to restrict the issuance of new oil and natural gas leases in the Gulf of Mexico. The bill specifies that companies must renegotiate existing leases to include royalty payments when oil and gas prices reach...
Simple Explanation
The bill wants to make sure oil companies pay the government some money when oil and gas prices are really high; if they don't agree to this rule, they can't get new permits to drill for more oil or gas in a certain area of the ocean.