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Know Your Oil Act

H.R. 3286 · 115th Congress · Jul 18, 2017 · Lineage

A BILL

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

Section 1 Short title

This Act may be cited as the “Know Your Oil Act”.

Sec. 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, refine, or transport oil or transport refined products 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, production, and refining;
(C)
venting of methane gas associated with extraction, production, and refining;
(D)
refinery processes and production practices;
(E)
supply chains, logistics, and methods of transport for crude oil and refined 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)
the Energy Information Administration;
(6)
Indian tribes, as defined under section 4 of the Indian Self-Determination and Education Assistance Act (25 U.S.C. 5304); and
(7)
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.