The enactment of SB3467 has significant implications for state laws related to energy exports and maritime regulations. By specifying that exports must be conducted using U.S.-built vessels, the bill supports the domestic shipbuilding industry and promotes job creation within that sector. It could also enhance national security by ensuring that strategic resources are transported on U.S.-flagged vessels, potentially reducing reliance on foreign shipping and improving oversight of the shipping process.
Summary
SB3467, also known as the Energizing American Shipbuilding Act of 2023, mandates that a specified percentage of natural gas and crude oil exports from the United States be transported on vessels that are built and documented under U.S. laws. The bill’s intent is to foster domestic shipbuilding and ensure that American-made vessels are utilized for transporting exported energy resources. It sets forth gradual increases in the percentage of exports that must be transported by such vessels over a series of years, culminating in a requirement of at least 15 percent by the 22nd calendar year following its enactment.
Contention
While the bill is supported by proponents who emphasize the economic and security benefits of increasing the involvement of U.S. shipbuilders in the energy export market, there are also notable points of contention. Critics argue that the bill might raise shipping costs for energy exporters, potentially leading to increased prices for consumers. There are concerns regarding the exceptions provided, including the President's authority to waive the transportation requirements under certain conditions, which could dilute the bill's intended impact.