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[Discussion Draft]
[Discussion Draft]
September 23, 2015
114th CONGRESS
1st Session
Rules Committee Print 114-27
Text of H.R. 702, To adapt to changing crude oil market conditions.
[Showing the text of the bill as ordered reported by the Committee on Energy and Commerce.]
1.
The Congress finds that—
(1)
the United States has enjoyed a renaissance in energy production, establishing the United States as the world’s leading oil producer;
(2)
the United States upholds a commitment to free trade and open markets and has consistently opposed attempts by other nations to restrict the free flow of energy; and
(3)
the United States should remove all restrictions on the export of crude oil, which will provide domestic economic benefits, enhanced energy security, and flexibility in foreign diplomacy.
2.
Section 103 of the Energy Policy and Conservation Act (42 U.S.C. 6212) and the item relating thereto in the table of contents of that Act are repealed.
3.
National policy on oil export restriction
Notwithstanding any other provision of law, to promote the efficient exploration, production, storage, supply, marketing, pricing, and regulation of energy resources, including fossil fuels, no official of the Federal Government shall impose or enforce any restriction on the export of crude oil.
4.
Study and recommendations
Not later than 120 days after the date of enactment of this Act, the Secretary of Energy shall conduct a study and transmit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Energy and Natural Resources of the Senate recommendations on the appropriate size, composition, and purpose of the Strategic Petroleum Reserve.
5.
Nothing in this Act limits the authority of the President under the Constitution, the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), the National Emergencies Act (50 U.S.C. 1601 et seq.), or part B of title II of the Energy Policy and Conservation Act (42 U.S.C. 6271 et seq.) to prohibit exports.