Supply Relief and Domestic Production Cost Reduction Act

The purposes of this Act are—

(1) to increase the availability of domestic crude oil, natural gas, condensate, and natural gas liquids during periods of supply shortage or elevated consumer fuel costs;

(2) to reduce marginal production costs for upstream producers capable of bringing additional supply to market;

(3) to lower Federal fiscal, regulatory, and permitting barriers that discourage domestic exploration, drilling, completion, recompletion, workover, and production activities;

(4) to ensure that relief provided under this Act is tied to domestic production, supply availability, and consumer cost reduction; and

(5) to preserve environmental, safety, and reclamation obligations while ensuring that such obligations are implemented in a timely, predictable, and non-duplicative manner.