Amendment requires a study of the national implications resulting from lifting the crude oil export ban with respect to consumers and the economy.

1. 1

   Change 1: Inserts “(a) Strategic Petroleum Reserve Study.--” before “Not later than”

   InsertsPage 3, line 4Printed page

   In H.R. 702 · Reported in House

   SEC. 4. STUDY AND RECOMMENDATIONS.

   [inserted: (a) Strategic Petroleum Reserve Study.-- ]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.

   SEC. 5. SAVINGS CLAUSE.

   Original wording

   Page 3, line 4, insert “(a) Strategic Petroleum Reserve Study.--” before “Not later than”.

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   Change 2: Inserts new text on page 3, line 10

   InsertsPrinted page

   Inserted: (b) Crude Oil Export Study.--

   Inserted: (1) In general.--The Department of Commerce, in consultation with the Department of Energy, and other departments as appropriate, shall conduct a study of the State and national implications of lifting the crude oil export ban with respect to consumers and the economy.

   Inserted: (2) Contents.--The study conducted under paragraph (1) shall include an analysis of--

   Inserted: (A) the economic impact that exporting crude oil will have on the economy of the United States;

   Inserted: (B) the economic impact that exporting crude oil will have on consumers, taking into account impacts on energy prices;

   Inserted: (C) the economic impact that exporting crude oil will have on domestic manufacturing, taking into account impacts on employment; and

   Inserted: (D) the economic impact that exporting crude oil will have on the refining sector, taking into account impacts on employment.

   Inserted: (3) Report to congress.--Not later than 1 year after the date of enactment of this Act, the Bureau of Industry and Security shall submit to Congress a report containing the results of the study conducted under paragraph (1).

   Original wording

   Page 3, after line 10, insert the following:

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As printed