To cancel Federal oil and gas leases held by entities that manipulate the market price of oil or gas in violation of certain Federal law, and for other purposes.
Latest Action
Referred to the House Committee on Natural Resources.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™This bill, introduced in the 118th Congress as H.R. 9118, aims to cancel federal oil and gas leases held by entities found to manipulate the market price of oil or gas in violation of federal law. The bill was referred to the House Committee on Natural Resources but did not advance further and is currently classified as failed or expired. The bill falls under the energy policy area and seeks to address market manipulation by imposing lease cancellation as a penalty.
H.R. 9118 sought to penalize market manipulation in the oil and gas sector by canceling federal leases but did not progress beyond committee referral and is now expired.
- The bill targets entities holding federal oil and gas leases who manipulate market prices in violation of federal law.
- Cancellation of federal leases is the primary enforcement mechanism proposed.
- The bill was referred to the House Committee on Natural Resources but did not advance and is now failed or expired.
['Federal government agencies responsible for lease management and enforcement', 'Market participants seeking fair competition in oil and gas markets', 'Consumers potentially affected by oil and gas price manipulation']
['The bill text is not available, limiting detailed analysis of enforcement mechanisms and definitions.', 'Implementation challenges could arise in proving market manipulation and linking it directly to lease cancellation.', 'Potential legal and administrative costs associated with lease cancellations and dispute resolution.', 'Oversight mechanisms and due process protections for leaseholders are unclear due to lack of full text.']
The bill was introduced in the House during the 118th Congress and referred to the House Committee on Natural Resources. It addresses concerns about market manipulation in the energy sector, a topic of ongoing legislative interest. However, the bill did not advance beyond committee referral and is now classified as failed or expired.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Potential deterrent effect on market manipulation by oil and gas leaseholders.', 'Possible increased administrative burden on federal agencies to investigate and enforce lease cancellations.', 'Market stability impacts if lease cancellations affect supply or investment in oil and gas production.']
The lack of full bill text limits comprehensive analysis, particularly regarding definitions, enforcement procedures, and protections for leaseholders. Transparency about how market manipulation is defined and proven, as well as safeguards for due process, are critical for oversight. The bill's failure to advance suggests limited legislative support or unresolved policy questions.
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