H.R. 1850 — CRUDE Act

This section revises the exceptions allowing the President to impose crude oil export licensing requirements or other restrictions for up to one year by (1) replacing the standalone authority to declare a national emergency with a new requirement for the Secretaries of Defense, Energy, and Commerce to jointly find and report to the President and Congress that U.S. crude oil exports have caused sustained material supply shortages or sustained oil prices significantly above world market levels directly attributable to such exports, with those effects causing or likely to cause sustained material adverse U.S. employment effects, followed by a presidential national emergency declaration based on that report; (2) retaining the exception for sanctions or trade restrictions imposed for national security reasons; and (3) eliminating the prior exception based on a finding by the Secretary of Commerce, in consultation with the Secretary of Energy, of such supply shortages, price increases, or employment effects. (Thus, these changes eliminate the President's unilateral national emergency authority and the Commerce Department's finding authority under prior subparagraphs (A) and (C), respectively.)