H.R. 4835: Strategic Resources Non-discrimination Act

This bill, titled the Strategic Resources Non-discrimination Act, proposes amendments to the Defense Production Act of 1950 to address issues of discrimination based on energy sources. Below are the key components of the bill:

Short Title

The bill can be referred to as the "Strategic Resources Non-discrimination Act."

Amendments to the Defense Production Act

Domestic Energy Supplies

The bill adds a clarification to the Defense Production Act regarding domestic energy supplies. It allows for the inclusion of factors other than environmental protection when considering support for domestic energy supplies. This means that financial and logistical support can still be provided for domestic energy production even if environmental concerns are present, with the exception noted for environmental protection purposes.

Prohibition on Discrimination Based on Energy Source

The bill establishes that the President cannot deny financial support related to energy production based on whether the energy comes from fossil fuels. Specifically, it ensures that support cannot be withheld from activities related to:

• Exploration
• Development
• Production
• Utilization
• Transportation
• Sale of fossil fuel-based energy

The intent behind this clause is to ensure that companies engaged in fossil fuel energy production are not discriminated against when seeking financial assistance or support under certain sections of the Defense Production Act.

Overall Impact

By prohibiting discrimination based on energy sources, the bill seeks to create a more balanced approach to energy support within the framework of national defense and production capabilities. It aligns with policies that aim to assure the availability of domestic energy supplies without favoring one type over another, particularly between fossil fuels and alternative energy sources.

Relevant Companies

• XOM - ExxonMobil: As a major player in fossil fuel production, ExxonMobil could see increased financial support for its operations.
• CVX - Chevron: Similar to ExxonMobil, Chevron might benefit from a policy that does not discriminate against fossil fuel producers.
• COP - ConocoPhillips: This company could also experience impacts from enhanced support for fossil fuel-related activities.