H.R.4325 - Keep America's Oil Here Act112th Congress (2011-2012)
|Sponsor:||Rep. Markey, Edward J. [D-MA-7] (Introduced 03/29/2012)|
|Committees:||House - Natural Resources|
|Latest Action:||04/16/2012 Referred to the Subcommittee on Energy and Mineral Resources. (All Actions)|
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Summary: H.R.4325 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (03/29/2012)
Keep America's Oil Here Act - Authorizes the Secretary of the Interior to accept bids on any new oil and gas leases of federal lands (including submerged lands) only from bidders certifying that all crude oil produced under such leases, and all refined petroleum products made from such crude oil, shall be offered for sale only in the United States.
Authorizes the President to waive such limited leasing authorization upon specified determinations, including that waiver is in the national interest because it will not lead to: (1) an increase in domestic consumption of crude oil obtained from countries hostile to U.S. interests or that have political and economic instability compromising energy supply security, (2) higher costs to oil refiners purchasing the crude oil than the refiners would have to pay in the absence of such a waiver; and (3) higher gasoline costs paid by consumers than they would have to pay in the absence of such a waiver.