SECTION 1. FINDINGS. 
The Congress finds the following: 
(1) The United States has enjoyed a renais-
sance in energy production, establishing the United 
States as the world’s leading oil producer. 
(2) By authorizing crude oil exports, the Con-
gress can spur domestic energy production, create 
and preserve jobs, help maintain and strengthen our 
independent shipping fleet that is essential to na-
tional defense, and generate State and Federal reve-
nues. 
(3) An energy-secure United States that is a 
net exporter of energy has the potential to transform 
the security environment around the world, notably 
in Europe and the Middle East. 
(4) For our European allies and Israel, the 
presence of more United States oil in the market 
will offer more secure supply options, which will 
strengthen United States strategic alliances and help 
curtail the use of energy as a political weapon. 
(5) The 60-ship Maritime Security Fleet is a 
vital element of our military’s strategic sealift and 
global response capability. It assures United States- 
flag ships and United States crews will be available 
to support the United States military when it needs 
to mobilize to protect our allies, and is the most pru-
dent and economical solution to meet current and 
projected sealift requirements for the United States. 
(6) The Maritime Security Fleet program pro-
vides a labor base of skilled American mariners who 
are available to crew the United States Government- 
owned strategic sealift fleet, as well as the United 
States commercial fleet, in both peace and war. 
(7) The United States has reduced its oil con-
sumption over the past decade, and increasing in-
vestment in clean energy technology and energy effi-
ciency will lower energy prices, reduce greenhouse 
gas emissions, and increase national security. 
SEC. 2. REPEAL. 
Section 103 of the Energy Policy and Conservation 
Act (42 U.S.C. 6212) and the item relating thereto in the 
table of contents of that Act are repealed. 
SEC. 3. NATIONAL POLICY ON OIL EXPORT RESTRICTION. 
Notwithstanding any other provision of law, to pro-
mote the efficient exploration, production, storage, supply, 
marketing, pricing, and regulation of energy resources, in-
cluding fossil fuels, no official of the Federal Government 
shall impose or enforce any restriction on the export of 
crude oil.
SEC. 4. STUDY AND RECOMMENDATIONS. 
(a) STRATEGIC PETROLEUM RESERVE.—Not later 
than 120 days after the date of enactment of this Act, 
the Secretary of Energy shall conduct a study and trans-
mit 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 Stra-
tegic Petroleum Reserve. 
(b) GREENHOUSE GAS EMISSIONS.—Not later than 
120 days after the date of enactment of this Act, the Sec-
retary of Energy shall conduct, and transmit to the Com-
mittee on Energy and Commerce of the House of Rep-
resentatives and the Committee on Energy and Natural 
Resources of the Senate the results of, a study on the net 
greenhouse gas emissions that will result from the repeal 
of the crude oil export ban under section 2. 
(c) 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 En-
ergy and Natural Resources of the Senate recommenda-
tions on the appropriate size, composition, and purpose 
of the Strategic Petroleum Reserve. 
(d) CRUDE OIL EXPORT STUDY.—
(1) IN
GENERAL.—The Department of Com-
merce, in consultation with the Department of En-
ergy, and other departments as appropriate, shall 
conduct a study of the State and national implica-
tions of lifting the crude oil export ban with respect 
to consumers and the economy. 
(2) CONTENTS.—The study conducted under 
paragraph (1) shall include an analysis of— 
(A) the economic impact that exporting 
crude oil will have on the economy of the 
United States; 
(B) the economic impact that exporting 
crude oil will have on consumers, taking into 
account impacts on energy prices; 
(C) the economic impact that exporting 
crude oil will have on domestic manufacturing, 
taking into account impacts on employment; 
and 
(D) the economic impact that exporting 
crude oil will have on the refining sector, taking 
into account impacts on employment. 
(3) REPORT TO CONGRESS.—Not later than 1 
year after the date of enactment of this Act, the Bu-
reau of Industry and Security shall submit to Con-
gress a report containing the results of the study 
conducted under paragraph (1). 
SEC. 5. SAVINGS CLAUSE. 
Nothing in this Act limits the authority of the Presi-
dent under the Constitution, the International Emergency 
Economic Powers Act (50 U.S.C. 1701 et seq.), the Na-
tional Emergencies Act (50 U.S.C. 1601 et seq.), part B 
of title II of the Energy Policy and Conservation Act (42 
U.S.C. 6271 et seq.), the Trading With the Enemy Act 
(50 U.S.C. App. 1 et seq.), or any other provision of law 
that imposes sanctions on a foreign person or foreign gov-
ernment (including any provision of law that prohibits or 
restricts United States persons from engaging in a trans-
action with a sanctioned person or government), including 
a foreign government that is designated as a state sponsor 
of terrorism, to prohibit exports. 
SEC. 6. NATIONAL DEFENSE SEALIFT ENHANCEMENT. 
(a) PAYMENTS.—Section 53106(a)(1) of title 46, 
United States Code, is amended— 
(1) in subparagraph (B), by striking the comma 
before ‘‘for each’’; 
(2) in subparagraph (C), by striking ‘‘2016, 
2017, and 2018;’’ and inserting ‘‘and 2016’’; 
(3) by redesignating subparagraph (E) as sub-
paragraph (G); and
SEC. 10. PROHIBITION ON EXPORTS OF CRUDE OIL, RE-
FINED PETROLEUM PRODUCTS, AND PETRO-
CHEMICAL PRODUCTS TO THE ISLAMIC RE-
PUBLIC OF IRAN. 
Nothing in this Act shall be construed to authorize 
the export of crude oil, refined petroleum products, and 
petrochemical products by or through any entity or per-
son, wherever located, subject to the jurisdiction of the 
United States to any entity or person located in, subject 
to the jurisdiction of, or sponsored by the Islamic Republic 
of Iran. 
Passed the House of Representatives October 9, 
2015. 
Attest: 
Clerk.
114TH CONGRESS 
1ST SESSION 
H. R. 702 
AN ACT 
To adapt to changing crude oil market conditions.