Us Congress House Bill HB647

Us Congress 2023-2024 Regular Session

• Introduced: 1/31/23
• Refer: 1/31/23
• Refer: 2/10/23

Caption

Unlocking our Domestic LNG Potential Act of 2023

Impact

If enacted, HB 647 would significantly amend Section 3 of the Natural Gas Act, transferring the exclusive authority to approve or deny applications for the construction and operation of natural gas facilities to the Commission. This legislation would streamline the current regulatory framework, which supporters argue is cumbersome and inhibits the United States' ability to respond swiftly to global energy demands. The changes may further bolster energy independence, allowing the country to utilize its domestic resources more effectively.

Summary

House Bill 647, also known as the Unlocking our Domestic LNG Potential Act of 2023, aims to repeal existing restrictions on the import and export of natural gas from the United States. The bill seeks to enhance the country's capacity to position itself as a leader in the global liquefied natural gas (LNG) market by facilitating smoother operations for facilities involved in the export and import processes. Proponents argue that this can lead to increased economic growth, job creation, and a strengthened energy sector.

Contention

However, the bill is not without controversy. Critics raise concerns regarding potential environmental impacts that may arise from increased natural gas exports and imports. The repeal of certain restrictions could lead to expedited approvals for facilities that may not sufficiently address ecological concerns, potentially heightening the risks of environmental degradation. Additionally, some stakeholders argue that the bill could conflict with existing international trade agreements, particularly regarding sanctions against nations deemed state sponsors of terrorism.