H.R. 6082 (114th): Know Your Oil Act of 2016

The text of the bill below is as of Sep 20, 2016 (Introduced).

I

114th CONGRESS

2d Session

H. R. 6082

IN THE HOUSE OF REPRESENTATIVES

September 20, 2016

(for himself, Mr. Lowenthal, Mr. Tonko, Ms. Lee, Mr. Quigley, and Ms. Matsui) introduced the following bill; which was referred to the Committee on Energy and Commerce

A BILL

To direct the Secretary of Energy to issue regulations regarding disclosure of oil data, and for other purposes.

1.

Short title

This Act may be cited as the Know Your Oil Act of 2016.

2.

Oil data

(a)

Regulations

Not later than 1 year after the date of the enactment of this Act, the Secretary of Energy shall issue regulations to require companies that extract or refine oil to disclose field-level oil data, including—

(1)

greenhouse gas emissions during extraction, refining, and combustion;

(2)

nonproprietary practices and technologies that affect such emissions, including—

(A)

locations of oil fields;

(B)

flaring of natural gas associated with extraction and production;

(C)

venting of methane gas associated with extraction and production;

(D)

refinery processes and production practices;

(E)

supply chains, logistics, and methods of transport for products; and

(F)

production and reserve volumes of oil fields; and

(3)

standardized oil assays that are multi-cut with fixed temperatures and routinely collected to characterize each oil field resource.

(b)

Consultation

In carrying out this Act, the Secretary shall consult with appropriate entities that are authorized to collect relevant information, including—

(1)

the Environmental Protection Agency;

(2)

the Department of the Interior;

(3)

the Securities and Exchange Commission;

(4)

the Department of Commerce, acting through the National Oceanic and Atmospheric Administration;

(5)

tribal governments; and

(6)

States, through—

(A)

the respective energy, oil, and gas resource agencies of each State; or

(B)

interstate compacts, including the Interstate Oil and Gas Compact Commission.

(c)

Reporting

Not later than 1 year after the date the Secretary issues regulations under subsection (a), the Secretary shall publish and maintain thereafter the information gathered pursuant to this Act online as an open dataset.