Us Congress Senate Bill SB1707

Us Congress 2023-2024 Regular Session

• Introduced: 5/18/23
• Refer: 5/18/23

Caption

BAN Fossil Fuel Exports Act Block All New Fossil Fuel Exports Act

Impact

If enacted, SB1707 would impact existing laws regulating energy exports and could potentially lead to noticeable shifts in both domestic and international energy markets. The bill empowers the President to enforce restrictions on the export of coal, petroleum products, and natural gas, enhancing the federal government's role in managing energy resources. This could lead to consequences for U.S. energy prices, affecting not only energy producers but also consumers, as domestic supply chains are re-evaluated in light of these restrictions.

Summary

SB1707, also known as the Block All New Fossil Fuel Exports Act, proposes significant changes to the Energy Policy and Conservation Act by reinstating the ban on the export of crude oil and natural gas produced in the United States. This bill emphasizes prioritizing domestic energy utilization and aims to reduce dependence on fossil fuel exports as a means to control pollution and environmental degradation. The legislation intends to position the U.S. more favorably within global energy discussions by reshaping domestic energy policies to focus on sustainability.

Contention

Key points of contention surrounding SB1707 involve balancing energy independence with global economic competitiveness. Proponents argue that this legislation is vital for environmental protection and aims to combat climate change by limiting fossil fuel exports. Conversely, critics express concerns that such measures could hinder economic opportunities and increase energy dependency domestically. The debate features a clash between environmental advocacy and the interests of energy producers and related industries, highlighting the need for a nuanced approach to energy regulation.