American Crude Oil Export Equality Act
Amends the Energy Policy and Conservation Act to repeal the authority of the President to restrict exports of:
- coal, petroleum products, natural gas, or petrochemical feedstocks; and
- materials or equipment which he determines necessary for either exploration, production, refining, or transportation of energy supplies, or for construction or maintenance of energy facilities within the United States.
Amends the Mineral Leasing Act to repeal limitations on exports of oil.
Amends the Outer Continental Shelf Lands Act to repeal limitations on export of Outer Continental Shelf oil or gas on the lands within its purview.
Declares without force or effect:
- the limitation placed upon crude oil exports by the Export Administration Act of 1979, and
- a specified regulation relating to crude oil (but retains its full force and effect with respect to crude oil exports from the Strategic Petroleum Reserve [SPR]).
Requires a license from the Bureau of Industry and Security of the Department of Commerce for export to a country of crude oil only if:
- the country is subject to sanctions or trade restrictions imposed by the United States,
- the President or Congress has designated the country as subject to exclusion for reasons of national security, or
- the export concerns the withdrawal of crude oil from the SPR.
Authorizes the President to ban crude oil exports from the United States during a national emergency for a maximum period of one year (renewable for additional one-year periods) if certain circumstances exist.
Directs the Governmental Accountability Office to conduct annual reviews of:
- energy production in the United States; and
- the effects, if any, of crude oil exports from the United States on consumers, independent refiners, and shipbuilding and ship repair yards.