A bill to establish controls on the export of certain energy producing commodities.
Energy Export Control Act - Directs the Secretary of Commerce to, at least quarterly during any period of nationwide energy emergency, and at least annually during any other period, determine the quantity of each energy producing commodity that will be available for export during the succeeding quarter or year.
Provides that energy producing commodities may not be exported to any foreign country unless the exporter has been issued a license by the Secretary or unless such export is exempt under the provisions of this Act. Prescribes the procedures for the issuing of such licenses.
Authorizes the Secretary to exempt from payment of any license fee an export which he determines involves: (1) the export of an energy producing commodity to a developing foreign country with a serious need for such commodity; and (2) such action would be in the best interests of the foreign relations of the United States and would not have an adverse effect on the energy needs of the United States.
Provides that the Secretary may exempt from the application of this Act or any requirement under this Act the export of any energy producing commodity which he determines: (1) involves a temporary export for processing purposes to a foreign country and will result in a subsequent import of such commodity to the United States; or (2) such export will be offset by a subsequent import of another energy producing commodity or other matter essential to the energy needs of the United States.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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