Us Congress Senate Bill SB3828

Us Congress 2023-2024 Regular Session

• Introduced: 2/28/24
• Refer: 2/28/24

Caption

Protecting American Households From Rising Energy Costs Act of 2024

Impact

If enacted, SB3828 would significantly alter existing export regulations for LNG and petroleum products. The proposed legislation would prohibit exports to entities owned or controlled by the aforementioned countries, thereby reinforcing the U.S. stance against these nations. Proponents argue that preventing exports to adversarial countries will help maintain lower domestic energy prices and ensure energy security for American households. This could have implications not only for domestic consumption but also for international trade and relations, especially in the energy sector.

Summary

SB3828, titled the 'Protecting American Households From Rising Energy Costs Act of 2024', aims to impose restrictions on the export of liquefied natural gas (LNG) and petroleum products to specific countries deemed adversarial to the United States. Notably, these countries include China, Russia, North Korea, and Iran. The bill was introduced by Senator Merkley and is currently under consideration by the Senate Committee on Energy and Natural Resources. Its main focus appears to be on safeguarding domestic energy resources and addressing concerns about potential geopolitical threats posed by these nations.

Contention

One of the key points of contention surrounding SB3828 involves the balance between enhancing national security and the potential economic repercussions of restricting energy exports. Critics may argue that such prohibitions could lead to retaliatory measures from the affected countries, disrupting global energy markets. Additionally, the bill allows for waivers, which could further complicate enforcement and lead to questions about which transactions would be considered in the 'national interest'. This aspect of the legislation could also lead to legal challenges or lobbying efforts from export-oriented stakeholders.