,,ii #aad? ,,congress #a/ ,session ,s4 #acgb ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,may #ai1 #bjae ,ms4 ,heitkamp 7= h]self1 ,ms4 ,murk[ski1 ,mr4 ,man*91 & ,mr4 ,cork]7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to repeal ! crude oil export ban1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,am]ican ,crude ,oil ,export ,equality ,act4 #b4 ,f9d+s ,congress f9ds t-- 7#a7 ! ,unit$ ,/ates has enjoy$ a r5aissance 9 en]gy production-- 7,a7 increas+ dome/ic inve/m5t & jobs2 & 7,b7 e/abli%+ ! ,unit$ ,/ates z a _w lead] 9 crude oil production2 7#b7 ! ,unit$ ,/ates upholds a commitm5t to free trade & op5 m>kets & has consi/5tly oppos$ attempts by o!r nations to re/rict ! free fl[ ( en]gy2 7#c7 indep5d5t /udies h conclud$ t all[+ ! export ( dome/ically produc$ crude oil-- 7,a7 w increase ! globally available supply ( crude oil2 & 7,b7 w t5d to r$uce dome/ic prices = gasol9e & o!r ref9$ petroleum products 9 ! ,unit$ ,/ates2 7#d7 gasol9e & o!r ref9$ petroleum products are already eligible = export f ! ,unit$ ,/ates )\t re/riction2 7#e7 gasol9e prices 9 ! ,unit$ ,/ates reflect ! price paid on ! global m>ket = crude oil & n a sep>ate crude oil price 9 ! ,unit$ ,/ates2 7#f7 exports ( crude oil produc$ 9 ! ,unit$ ,/ates w\ld provide an alt]native /able suppli] = crude oil to allies ( ! ,unit$ ,/ates ar\nd ! _w-- 7,a7 all[+ ,unit$ ,/ates crude oil exports to compete on equal foot+ ) o!r int]national crudes2 7,b7 all[+ ,unit$ ,/ates crude oil exports to compete ) & pot5tially displace crude oil exports f ,iran1 z pot5tial eas+ ( sanctions c\ld lead to ,iran rega9+ m>ket %>e2 7,c7 facilitat+ assi/ance to ! c\ntries ( ,europe & ,eurasia to div]sify _! en]gy s\rces & a*ieve en]gy security by provid+ ano!r option to protect aga9/ possible un/able supply fl[s2 & 7,d7 all[+ ! ,unit$ ,/ates to use national en]gy policy to fur!r ,unit$ ,/ates int]e/s abroad2 & 7#g7 ! ,unit$ ,/ates %\ld remove all re/rictions on ! export ( dome/ically produc$ crude oil or crude oil ( any orig91 :i* w increase economic b5efits1 enhance en]gy security1 improve ! trade deficit1 & promote key national security int]e/s ( ! ,unit$ ,/ates dome/ically & ar\nd ! _w4 #c4 ,crude oil exports 7a7 ,repeal ( presid5tial au?ority ,to re/rict oil exports 7#a7 ,9 g5]al ,section #ajc ( ! ,en]gy ,policy & ,cons]vation ,act 7#db ,u4,s4,c4 #fbab7 is repeal$4 7#b7 ,con=m+ am5dm5ts 7,a7 ,! table ( cont5ts = ! ,en]gy ,policy & ,cons]vation ,act is am5d$ by /rik+ ! item relat+ to section #ajc4 7,b7 ,! ,en]gy ,policy & ,cons]vation ,act is am5d$-- 7i7 9 section #bea 7#db ,u4,s4,c4 #fbga7-- 7,i7 by /rik+ subsection 7d72 & 7,,ii7 by r$esignat+ subsection 7e7 z subsection 7d72 & 7ii7 9 section #ebc7;a77#a7 7#db ,u4,s4,c4 #fcic7;a77#a771 by /rik+ 7o!r ?an section #ajc !re(74 7,c7 ,section #ab ( ! ,alaska ,natural ,gas ,transportation ,act ( #aigf 7#ae ,u4,s4,c4 #gai;j7 is am5d$-- 7i7 by /rik+ & section #ajc ( ! ,en]gy ,policy & ,cons]vation ,act2 & 7ii7 by /rik+ su* ,acts & ins]t+ t ,act4 7b7 ,repeal ( limitations on exports ( oil 7#a7 ,9 g5]al ,section #bh ( ! ,m9]al ,leas+ ,act 7#cj ,u4,s4,c4 #ahe7 is am5d$-- 7,a7 by /rik+ subsection 7u72 & 7,b7 by r$esignat+ subsections 7v7 ?r\gh 7y7 z subsections 7u7 ?r\gh 7x71 respectively4 7#b7 ,con=m+ am5dm5ts 7,a7 ,section #aajg7;c7 ( ! ,alaska ,national ,int]e/ ,l&s ,cons]vation ,act 7#af ,u4,s4,c4 #cafg7;c77 is am5d$ by /rik+ 7u7 ?r\gh 7y7 & ins]t+ 7u7 ?r\gh 7x74 7,b7 ,! ,deepwat] ,port ,act ( #aigd is am5d$-- 7i7 9 section #c7i77;,a7 7#cc ,u4,s4,c4 #aejb7i77;,a771 by /rik+ except z o!rwise provid$ 9 section #bc12 & 7ii7 by /rik+ section #bc 7#cc ,u4,s4,c4 #aebb74 7,c7 ,section #bjc7;c7 ( ! ,trans-,alaska ,pipel9e ,au?orization ,act 7#dc ,u4,s4,c4 #afeb7;c77 is am5d$ 9 ! fir/ s5t5ce by /rik+ 7w77#b71 & 7x77 & ins]t+ 7v77#b71 & 7w774 7,d7 ,section #eji7;c7 ( ! ,public ,utility ,regulatory ,policies ,act ( #aigh 7#dc ,u4,s4,c4 #bjji7;c77 is am5d$ by /rik+ subsection 7w77#b7 & ins]t+ subsection 7v77#b74 7c7 ,repeal ( limitations on export ( ,,ocs oil or gas ,section #bh ( ! ,out] ,cont95tal ,%elf ,l&s ,act 7#dc ,u4,s4,c4 #aced7 is repeal$4 7d7 ,t]m9ation ( limitation on exportation ( crude oil ,section #g7;d7 ( ! ,export ,adm9i/ration ,act ( #aigi 7#ej ,u4,s4,c4 ,app4 #bdjf7;d77 7z cont9u$ 9 effect pursuant to ! ,int]national ,em]g5cy ,economic ,p[]s ,act 7#ej ,u4,s4,c4 #agja et seq477 %all h no =ce or effect4 7e7 ,cl>ification ( crude oil regulation 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 section #ged4b ( title #ae1 ,code ( ,f$]al ,regulations 7relat+ to crude oil7 %all h no =ce or effect4 7#b7 ,limitation ,) respect to ! export ( crude oil f ! ,/rategic ,petroleum ,res]ve1 ! regulation ref]r$ to 9 p>agraph 7#a7 7z 9 effect on ! date t is #a day be=e ! date ( enactm5t ( ?is ,act7 %all cont9ue 9 full =ce & effect4 7#c7 ,crude oil lic5se requirem5ts ,a lic5se to export to a c\ntry crude oil 7z ! t]m is def9$ 9 subsection 7a7 ( ! regulation ref]r$ to 9 p>agraph 7#a77 7z 9 effect on ! date t is #a day be=e ! date ( enactm5t ( ?is ,act71 %all be requir$ f ! ,bureau ( ,indu/ry & ,security ( ! ,dep>tm5t ( ,comm]ce1 aft] consultation ) o!r relevant ag5cies1 only if-- 7,a7 ! c\ntry is subject to sanctions or trade re/rictions impos$ by ! ,unit$ ,/ates2 7,b7 ! ,presid5t or ,congress has designat$ ! c\ntry z subject to exclusion = reasons ( national security2 or 7,c7 ! export conc]ns ! )drawal ( crude oil f ! ,/rategic ,petroleum ,res]ve4 7f7 ,effect ,except z provid$ 9 section #d1 any provision ( law or regulation t curtails1 limits1 delays1 or o!rwise re/ricts ! export ( crude oil %all h no =ce or effect4 #d4 ,exceptions & presid5tial au?ority 7a7 ,9 g5]al ,! ,presid5t may impose export lic5s+ requirem5ts or o!r re/rictions on ! export ( crude oil f ! ,unit$ ,/ates = a p]iod ( n m ?an #a ye>1 if-- 7#a7 ! ,presid5t decl>es a national em]g5cy & =mally notices ! decl>ation ( a national em]g5cy 9 ! ,f$]al ,regi/]2 7#b7 ! export lic5s+ requirem5ts or o!r re/rictions on ! export ( crude oil f ! ,unit$ ,/ates "u ?is section apply to #a or m c\ntries1 p]sons1 or organizations 9 ! context ( sanctions or trade re/rictions impos$ by ! ,unit$ ,/ates = reasons ( national security by ! ,executive au?ority ( ! ,presid5t or by ,congress2 or 7#c7 ! ,secret>y ( ,comm]ce1 9 consultation ) ! ,secret>y ( ,en]gy1 f9ds & reports to ! ,presid5t t-- 7,a7 ! export ( crude oil pursuant to ?is ,act has caus$ su/a9$ mat]ial oil supply %ortages or su/a9$ oil prices significantly above _w m>ket levels t are directly attributable to ! export ( crude oil produc$ 9 ! ,unit$ ,/ates2 & 7,b7 ^? supply %ortages or price increases h caus$ or are likely to cause su/a9$ mat]ial adv]se employm5t effects 9 ! ,unit$ ,/ates4 7b7 ,r5ewal ,any requirem5t or re/riction impos$ pursuant to p>agraph 7#a7 may be r5ew$ = #a or m additional p]iods ( n m ?an #a ye> ea*4 #e4 ,,gao review & report 7a7 ,9 g5]al ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 & annually !reaft] = #b ye>s1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all conduct a review (-- 7#a7 en]gy production 9 ! ,unit$ ,/ates2 & 7#b7 ! effects1 if any1 ( crude oil exports f ! ,unit$ ,/ates on consum]s1 indep5d5t ref9]s1 & %ipbuild+ & %ip repair y>ds4 7b7 ,cont5ts ( report ,n lat] ?an #a ye> aft] comm5c+ ea* review "u subsection 7a71 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ! ,committees on ,en]gy & ,natural ,res\rces1 ,bank+1 ,h\s+1 & ,urban ,affairs1 ,comm]ce1 ,sci5ce1 & ,transportation1 & ,=eign ,relations ( ! ,s5ate & ! ,committees on ,natural ,res\rces1 ,en]gy & ,comm]ce1 ,f9ancial ,s]vices1 & ,=eign ,affairs ( ! ,h\se ( ,repres5tatives a report t includes-- 7#a7 a /atem5t ( ! pr9cipal f9d+s ( ! review2 & 7#b7 recomm5dations = ,congress & ! ,presid5t to address any job loss 9 ! %ipbuild+ & %ip repair indu/ry or adv]se impacts on consum]s & ref9]s t ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates attributes to un5cumb]$ crude oil exports 9 ! ,unit$ ,/ates4