H.R.2969 - Finding Opportunities for Resource Exploration Act; Finding ORE Act (119th Congress)
Summary
H.R.2969, the Finding Opportunities for Resource Exploration Act (Finding ORE Act), aims to enhance the mapping of critical minerals and rare earth elements through scientific and technical cooperation with allied and partner foreign countries. The bill allows the Secretary of the Interior to enter into memoranda of understanding (MOUs) with foreign countries to achieve this goal. The Act prioritizes securing international supply chains and facilitating private-sector investment in the exploration and development of these resources.
Expected Effects
The likely effect of this bill is increased collaboration between the U.S. and partner nations in mapping critical minerals and rare earth elements. This could lead to more secure and resilient supply chains for these resources. It also aims to boost private sector involvement in resource development, potentially reducing reliance on adversarial nations.
Potential Benefits
- Increased security of supply chains for critical minerals and rare earth elements.
- Enhanced scientific and technical cooperation with allied and partner countries.
- Facilitation of private-sector investment in resource exploration and development.
- Potential for job creation in the mining and processing sectors.
- Improved understanding and management of natural resources in partner countries.
Potential Disadvantages
- Potential for environmental impacts in partner countries due to increased mining activity.
- Risk of unauthorized access to mapping data by non-allied countries, despite safeguards.
- Possible prioritization of private sector interests over environmental and social concerns in partner countries.
- Potential strain on diplomatic relations if MOUs are not negotiated and implemented effectively.
- The Act does not directly address domestic sourcing of critical minerals, potentially overlooking opportunities within the U.S.
Most Disadvantaged Areas:
Constitutional Alignment
The bill appears to align with the Constitution's broad goals of promoting the general welfare and providing for the common defense, as outlined in the Preamble. Specifically, by securing access to critical minerals, the bill supports national security and economic stability. The bill delegates authority to the Secretary of the Interior, which is consistent with Congress's legislative powers under Article I, Section 8.
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).