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bp statement on the Fiscal Responsibility Act and permitting reform

Release date:
30 May 2023

“bp applauds President Biden and Speaker McCarthy for agreeing on a plan to raise the debt limit. Now is the time for Congress to act and pass the Fiscal Responsibility Act, which offers an opportunity to begin streamlining federal permitting processes and creates greater financial certainty. These are the cornerstones to businesses like bp continuing to invest in America.


“Comprehensive permitting reform can help unlock the full potential of the US energy transition and improve domestic energy security. The permitting reform provisions offered in this bill are an important start, but significant work remains.


“We encourage Congress to consider additional legislation that advances the buildout of needed infrastructure and addresses other challenges to streamlining permitting reviews.


“bp is committed to working constructively with lawmakers to pass this bill on a bipartisan basis and building on this step to advance meaningful permitting reform.”

About bp

bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp has a larger economic footprint in the United States than anywhere else in the world, investing more than $140 billion since 2005 and supporting about 245,000 jobs. For more information on bp in the US, visit www.bp.com/US.

Further Information

bp US Media Affairs

Email: uspress@bp.com