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Manchin Blocks Build Back Better Act

 

Democratic West Virginia Senator Joe Manchin has gone on the record stating that he cannot support President Joe Biden’s climate and social spending package as written. The oil and gas industry at large is taking this as good news, seeing a better path forward for the industry aside from what is contained in the Build Back Better Act. 

 

The impacts to oil and gas through the Build Back Better Act include:

  

  • Royalty minimums rise from 12.5 to 18.75 percent onshore 
  • A 14 percent royalty minimum offshore 

 

For now, with Manchin’s resistance, it does not look like the act as currently written will be moving forward.  







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