H.R. 4135 (112th): Western Hemisphere Energy Security Act of 2012

112th Congress, 2011–2013. Text as of Mar 05, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 4135

IN THE HOUSE OF REPRESENTATIVES

March 5, 2012

introduced the following bill; which was referred to the Committee on Foreign Affairs

A BILL

To permit United States companies to participate in the exploration for and the extraction of hydrocarbon resources from any portion of a foreign maritime exclusive economic zone that is contiguous to the exclusive economic zone of the United States, and for other purposes.

1.

Short title

This Act may be cited as the Western Hemisphere Energy Security Act of 2012.

2.

Purpose

The purpose of this Act is to permit United States companies to participate in the exploration for and the extraction of hydrocarbon resources from any portion of a foreign maritime exclusive economic zone that is contiguous to the exclusive economic zone of the United States.

3.

Authorization of activities and exports involving hydrocarbon resources by United States companies

(a)

Authorization

Notwithstanding any other provision of law (including a regulation), United States persons (including agents and affiliates of such persons) may—

(1)

engage in any transaction necessary for the exploration for and extraction of hydrocarbon resources from any portion of any foreign exclusive economic zone that is contiguous to the exclusive economic zone of the United States, or for oil spill prevention and clean-up activities in such a portion of any foreign exclusive economic zone;

(2)

export without license authority all equipment necessary for the exploration for or extraction of hydrocarbon resources, or oil spill prevention and clean-up activities, described in paragraph (1); and

(3)

import into the United States hydrocarbon resources described in paragraph (1) (including products thereof) extracted under the authority of this section.

(b)

Definition

In this section, the term United States person means—

(1)

any United States citizen or alien lawfully admitted for permanent residence in the United States; and

(2)

any person other than an individual, if an individual described in paragraph (1) owns or controls at least 51 percent of the securities or other equity interest in such person.

4.

Travel in connection with authorized hydrocarbon exploration and extraction activities

Section 910 of the Trade Sanctions Reform and Export Enhancement Act of 2000 (22 U.S.C. 7209) is amended by adding at the end the following the following new subsection:

(c)

General license authority for travel-Related expenditures by persons engaging in hydrocarbon exploration and extraction activities

(1)

In general

The Secretary of the Treasury shall authorize under a general license the travel-related transactions listed in section 515.560(c) of title 31, Code of Federal Regulations, for travel to, from, or within Cuba in connection with—

(A)

exploration for, and the extraction of, hydrocarbon resources in any part of a foreign maritime exclusive economic zone that is contiguous to the United States exclusive economic zone; or

(B)

oil spill prevention and clean-up activities in such a part of a foreign maritime exclusive economic zone.

(2)

Persons authorized

Persons authorized to travel to Cuba under this section include—

(A)

full-time employees, executives, agents, and consultants of oil and gas producers, distributors, and shippers; and

(B)

persons who engage in oil spill prevention and clean-up activities.

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