H.R.1850 - Continuing Robust and Uninhibited Drilling and Exporting Act; CRUDE Act (119th Congress)
Summary
H.R.1850, the CRUDE Act, aims to revise the President's authority to impose export restrictions on crude oil. It amends Section 101(d)(1) of the Consolidated Appropriations Act, 2016, outlining specific conditions under which export restrictions can be implemented. These conditions include a joint finding by the Secretaries of Defense, Energy, and Commerce regarding sustained material oil supply shortages or significantly elevated prices directly attributable to crude oil exports from the United States.
Expected Effects
If enacted, the CRUDE Act would limit the President's power to restrict crude oil exports. This could lead to increased crude oil exports from the United States, potentially impacting domestic oil prices and supply. The bill also introduces a requirement for a formal declaration of a national emergency, based on specific findings, before export restrictions can be imposed.
Potential Benefits
- Potentially boosts domestic oil production and related industries.
- Could lead to increased revenue from crude oil exports.
- May reduce reliance on foreign oil sources for some nations.
- Streamlines the process for determining when export restrictions are necessary, adding clarity.
- Could lead to lower gasoline prices if increased supply outweighs export demand.
Potential Disadvantages
- Potential for domestic oil supply shortages if exports increase significantly.
- Possibility of increased gasoline prices if exports drive up demand.
- Environmental concerns related to increased oil production and transportation.
- Dependence on fossil fuels may be prolonged, hindering the transition to renewable energy.
- The bill may negatively impact energy independence if domestic supply is prioritized for export.
Most Disadvantaged Areas:
Constitutional Alignment
The bill appears to align with Congress's power to regulate commerce with foreign nations, as outlined in Article I, Section 8, Clause 3 of the Constitution. However, the President's executive power in matters of national security and foreign policy could be affected, potentially raising separation of powers concerns. The requirement for a national emergency declaration aligns with constitutional principles of checks and balances.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).