Domestic Energy Crisis Relief Act
Bill: S.3353 | Sponsor: Sen. Hyde-Smith, Cindy (R-MS)
Policy area: Energy

Summary:
Domestic Energy Crisis Relief Act
This bill sets forth provisions to increase the development of energy, including by (1) directing the Department of the Interior to conduct certain lease sales of federal lands and waters for the development of oil and gas, (2) authorizing the TransCanada Keystone Pipeline, (3) limiting delays on federal oil and gas leases; and (4) increasing the amount of revenue generated from oil and gas leases that is shared with certain states and coastal communities.

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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