Ban on Exporting Gas and Oil to China, Russia, North Korea, and Iran
This Act aims to protect American households from rising energy costs by restricting the export of liquefied natural gas and petroleum products to specific countries. This limitation could potentially increase the domestic supply of these commodities, which theoretically should help stabilize or lower energy prices for citizens. Companies violating this ban face severe financial penalties and imprisonment, ensuring effective enforcement of the new rules.
Key points
Main Change: Prohibition on exporting liquefied natural gas (LNG) and petroleum products to China, Russia, North Korea, and Iran.
Objective: Protecting American consumers from rising energy prices by keeping more resources within the country.
Waivers: The Secretary of Energy may grant an exception (waiver) if determined to be in the interest of U.S. national security.
Penalties: Violations carry very high civil penalties (up to $250 million or twice the transaction value) and criminal penalties (up to $100 million fine and up to 20 years in prison).
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.