[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 3353 Introduced in Senate (IS)]
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117th CONGRESS
1st Session
S. 3353
To provide solutions to the United States energy crisis, and for other
purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
December 9, 2021
Mrs. Hyde-Smith introduced the following bill; which was read twice and
referred to the Committee on Agriculture, Nutrition, and Forestry
_______________________________________________________________________
A BILL
To provide solutions to the United States energy crisis, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Domestic Energy Crisis Relief Act''.
SEC. 2. SENSE OF THE SENATE RELATING TO LOWERING ENERGY PRICES FOR
AMERICAN FAMILIES.
It is the sense of the Senate that the Federal Government should
implement policies to lower energy prices for American families and to
ensure the resiliency and energy independence of the United States by
revising the regulatory agenda and legislative priorities of the Biden
Administration that relate to domestic oil and gas development, such as
by--
(1) supporting the development of additional oil and gas
pipelines to the United States, such as the Keystone XL
Pipeline;
(2) following Federal law and the intent of Congress by
imposing sanctions on Nord Stream 2 AG and all individuals and
entities involved in the planning, construction, or operation
of the Nord Stream 2 Pipeline;
(3) withdrawing from the Paris Climate Agreement;
(4) complying with the Outer Continental Shelf Lands Act
(43 U.S.C. 1331 et seq.); and
(5) revising section 208 of Executive Order 14008 (86 Fed.
Reg. 7624 (February 1, 2021); relating to tackling the climate
crisis at home and abroad) to allow oil and gas leases in the
Gulf of Mexico and other offshore and onshore Federal areas.
SEC. 3. OIL AND GAS LEASING.
(a) In General.--The Secretary of the Interior shall immediately
resume oil and gas lease sales on Federal land in compliance with the
Mineral Leasing Act (30 U.S.C. 181 et seq.).
(b) Prohibition.--The President shall not, through Executive order
or any other administrative procedure, pause, cancel, delay, defer, or
otherwise impede or circumvent the Federal energy mineral leasing
processes under the Mineral Leasing Act (30 U.S.C. 181 et seq.) or the
Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.) or a related
rulemaking process required by subchapter II of chapter 5, and chapter
7, of title 5, United States Code (commonly known as the
``Administrative Procedure Act''), without Congressional approval.
SEC. 4. AUTHORIZATION OF KEYSTONE PIPELINE.
(a) In General.--TransCanada Keystone Pipeline, L.P. may construct,
connect, operate, and maintain pipeline facilities at the international
border of the United States and Canada in Phillips County, Montana, for
the import of oil from Canada to the United States as described in the
Presidential Permit of March 29, 2019 (84 Fed. Reg. 13101 (April 3,
2019)).
(b) No Presidential Permit Required.--No Presidential permit (or
similar permit) under any Executive order shall be required for the
construction, connection, operation, or maintenance of the pipeline
facilities described in subsection (a).
SEC. 5. FEDERAL SHARE OF CERTAIN OIL AND GAS PROJECTS.
(a) Definition of Covered Project.--In this section, the term
``covered project'' means a project to conduct oil and gas resource
assessments on Federal land with significant oil and gas potential.
(b) Federal Share.--With respect to a covered project carried out
jointly by a State and the Secretary of the Interior, the Federal share
of the cost of the covered project shall be not less than 50 percent.
SEC. 6. USE OF UNITED STATES WORKERS AND EQUIPMENT MANUFACTURED IN THE
UNITED STATES.
When practicable, the Secretary of the Interior shall encourage the
use of United States workers and equipment manufactured in the United
States in all construction activities carried out by the Secretary
relating to mineral resource development.
SEC. 7. REPORT ON INTERNATIONAL REGULATION OF ENERGY COMMODITY FUTURES
AND DERIVATIVES.
(a) In General.--The Commodity Futures Trading Commission shall
conduct a study on the international regime for regulating trading in
energy commodity futures and derivatives.
(b) Analysis.--The study conducted under subsection (a) shall
include an analysis of, at a minimum--
(1) key common features and differences among countries in
the regulation of energy commodity trading, including with
respect to market oversight and enforcement;
(2) agreements and practices for sharing market and trading
data;
(3) the use of position limits or thresholds to detect and
prevent price manipulation, excessive speculation described in
section 4a(a) of the Commodity Exchange Act (7 U.S.C. 6a(a)),
or other unfair trading practices;
(4) practices regarding the identification of commercial
and noncommercial trading and the extent of market speculation;
and
(5) agreements and practices for facilitating international
cooperation on market oversight, compliance, and enforcement.
(c) Report.--Not later than 120 days after the date of enactment of
this Act, the Commodity Futures Trading Commission shall submit to the
Committee on Agriculture, Nutrition, and Forestry of the Senate and the
Committee on Agriculture of the House of Representatives a report
that--
(1) describes the results of the study conducted under that
subsection; and
(2) provides recommendations to improve openness,
transparency, and other necessary elements of a properly
functioning market.
SEC. 8. REPORTING AND RECORDKEEPING.
(a) In General.--Section 4g of the Commodity Exchange Act (7 U.S.C.
6g) is amended by adding at the end the following:
``(g) Index Traders and Swap Dealers.--The Commission shall--
``(1) not later than 180 days after the date of enactment
of this subsection, issue a proposed rule regarding routine
reporting requirements for index traders (as defined by the
Commission) and swap dealers in energy and agricultural
transactions (as defined by the Commission) within the
jurisdiction of the Commission;
``(2) not later than 270 days after the date of enactment
of this subsection, issue a final rule regarding the reporting
requirements described in paragraph (1); and
``(3) subject to section 8, disaggregate and make publicly
available monthly information on the positions and value of
index funds and other passive, long-only positions in the
energy and agricultural futures markets (as defined by the
Commission).''.
(b) Report.--Not later than 90 days after the date of enactment of
this Act, the Commodity Futures Trading Commission shall submit to the
Committee on Agriculture of the House of Representatives and the
Committee on Agriculture, Nutrition, and Forestry of the Senate a
report describing--
(1) the scope of commodity index trading in the futures
markets;
(2) whether classification of index traders and swap
dealers in the futures markets can be improved for regulatory
and reporting purposes; and
(3) whether, based on a review of the trading practices for
index traders in the futures markets--
(A) index trading activity is adversely impacting
the price discovery process in the futures markets; and
(B) different practices and controls should be
required.
SEC. 9. HIRING OF EMPLOYEES FOR IMPROVED OVERSIGHT AND ENFORCEMENT.
As soon as practicable after the date of enactment of this Act, the
Commodity Futures Trading Commission shall hire not fewer than 50
additional full-time employees--
(1) to increase the public transparency of operations in
energy futures markets;
(2) to improve enforcement in those markets; and
(3) to carry out such other duties as the Commission
determines to be appropriate.
SEC. 10. GULF OF MEXICO OUTER CONTINENTAL SHELF REVENUES.
(a) Definition of Qualified Outer Continental Shelf Revenues.--
Section 102(9)(A) of the Gulf of Mexico Energy Security Act of 2006 (43
U.S.C. 1331 note; Public Law 109-432) is amended--
(1) in clause (i)(II), by striking ``and'' after the
semicolon;
(2) in clause (ii)--
(A) in the matter preceding subclause (I), by
striking ``fiscal year 2017 and each fiscal year
thereafter'' and inserting ``each of fiscal years 2017
through 2021''; and
(B) in subclause (III), by striking the period and
inserting ``; and''; and
(3) by adding at the end the following:
``(iii) in the case of fiscal year 2022 and
each fiscal year thereafter, all rentals,
royalties, bonus bids, and other sums due and
payable to the United States received on or
after October 1, 2021, from leases entered into
on or after October 1, 2000, for--
``(I) the 181 Area;
``(II) the 181 South Area; and
``(III) the 2002-2007 planning
area.''.
(b) Disposition of Qualified Outer Continental Shelf Revenues.--
(1) In general.--Section 105(a) of the Gulf of Mexico
Energy Security Act of 2006 (43 U.S.C. 1331 note; Public Law
109-432) is amended--
(A) in paragraph (1), by striking ``50'' and
inserting ``37.5''; and
(B) in paragraph (2)--
(i) in the matter preceding subparagraph
(A), by striking ``50'' and inserting ``62.5'';
(ii) in subparagraph (A), by striking
``75'' and inserting ``80''; and
(iii) in subparagraph (B), by striking
``25'' and inserting ``20''.
(2) Limitations on amount of distributed qualified outer
continental shelf revenues.--Section 105(f) of the Gulf of
Mexico Energy Security Act of 2006 (43 U.S.C. 1331 note; Public
Law 109-432) is amended--
(A) in paragraph (1)--
(i) in subparagraph (A), by adding ``and''
after the semicolon;
(ii) in subparagraph (B), by striking ``;
and'' and inserting a period; and
(iii) by striking subparagraph (C); and
(B) in paragraph (2), by striking ``2055'' and
inserting ``2021''.
(c) Exemption of Certain Payments From Sequestration.--
(1) In general.--Section 255(g)(1)(A) of the Balanced
Budget and Emergency Deficit Control Act of 1985 (2 U.S.C.
905(g)(1)(A)) is amended by inserting after ``Payments to
Social Security Trust Funds (28-0404-0-1-651).'' the following:
``Payments to States pursuant to section
105(a)(2)(A) of the Gulf of Mexico Energy Security Act
of 2006 (Public Law 109-432; 43 U.S.C. 1331 note) (014-
5535-0-2-302).''.
(2) Applicability.--The amendment made by this subsection
shall apply to any sequestration order issued under the
Balanced Budget and Emergency Deficit Control Act of 1985 (2
U.S.C. 900 et seq.) on or after the date of enactment of this
Act.
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