To adapt to changing crude oil market conditions.

To adapt to changing crude oil market conditions. 1. Findings The Congress finds that— (1) the United States has enjoyed a renaissance in energy production, establishing the United States as the world’s leading oil producer; (2) the United States upholds a commitment to free trade and open markets and has consistently opposed attempts by other nations to restrict the free flow of energy; and (3) the United States should remove all restrictions on the export of crude oil, which will provide domestic economic benefits, enhanced energy security, and flexibility in foreign diplomacy. 2. Repeal Section 103 of the Energy Policy and Conservation Act ( 42 U.S.C. 6212 3. National policy on oil export restriction Notwithstanding any other provision of law, to promote the efficient exploration, production, storage, supply, marketing, pricing, and regulation of energy resources, including fossil fuels, no official of the Federal Government shall impose or enforce any restriction on the export of crude oil. 4. Study and recommendations 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. 5. Savings clause Nothing in this Act limits the authority of the President under the Constitution, the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. 50 U.S.C. 1601 et seq. 42 U.S.C. 6271 et seq. September 25, 2015 Reported from the Committee on Energy and Commerce September 25, 2015 The Committee on Foreign Affairs

Summary: (Sec. 3) Amends the Energy Policy and Conservation Act to repeal authority to restrict the export of: (1) coal, petroleum products, natural gas, or petrochemical feedstocks; and (2) supplies of materials or equipment necessary to maintain or further exploration, production, refining, or transportation of energy supplies, or for the construction or maintenance of energy facilities within the United States. Prohibits any federal official from imposing or enforcing any restriction on the export of crude oil. (Sec. 4) Directs the Department of Energy (DOE) to study: (1) the appropriate size, composition, and purpose of the Strategic Petroleum Reserve; and (2) the net greenhouse gas emissions that will result from the repeal of the crude oil export ban. Directs the Department of Commerce to study the state and national implications of lifting the crude oil export ban with respect to consumers and the economy, including energy prices and employment. (Sec. 5) Declares that this Act does not limit the authority of the President to prohibit exports under either the Constitution, the International Emergency Economic Powers Act, the National Emergencies Act, the Energy Policy and Conservation Act, Trading with the Enemy Act, or any other law that imposes sanctions on a foreign person or foreign government (or prohibits or restricts U.S. persons from engaging in a transaction with a sanctioned person or government), including a foreign government designated as a state sponsor of terrorism. (Sec. 6) Increases for FY2017-FY2021 both the authorization of appropriations and payments to contractors for each vessel in the Maritime Security Fleet covered by an operating agreement. (Sec. 7) Directs DOE to: (1) continue to develop and broaden partnerships with minority serving institutions, including Hispanic Serving Institutions and Historically Black Colleges and Universities in the areas of oil and gas exploration, production, midstream, and refining; and (2) encourage public-private partnerships between the energy sector and those institutions. (Sec. 8) Requires both DOE and the Commerce to report jointly to Congress regarding: the impact of lifting the oil export ban under this Act as it relates to promoting U.S. energy and national security; and how lifting the ban will help create opportunities for veterans and women in the United States, while promoting energy and national security. (Sec. 10) Declares that nothing in this Act shall be construed as authorizing the export of crude oil, refined petroleum products, and petrochemical products by any entity or person subject to U.S. jurisdiction to any entity or person located in, subject to the jurisdiction of, or sponsored by the Islamic Republic of Iran.