(2) to purchase petroleum and petroleum products, and other materials vital to the national interest, which are produced abroad and acquired by persons in the United States through barter for agricultural commodities produced in and exported from the United States through normal commercial trade channels.

(c) OTHER PROVISIONS OF LAW NOT AFFECTED.-In the case of any petroleum, petroleum products, or other materials vital to the national interest, which are acquired under subsection (b), nothing in this section shall be construed to render inapplicable the provisions of any law then in effect which apply to the storage, distribution, or use of such petroleum, petroleum products, or other materials vital to the national interest.

(d) CONVENTIONAL MARKETS NOT TO BE DISPLACED BY BARTERS.The President shall take steps to ensure that, in making any barter described in subsection (a) or (b)(1) or any purchase authorized by subsection (b)(2), existing export markets for agricultural commodities operating on conventional business terms are safeguarded from displacement by the barter described in subsection (a), (b)(1), or (b)(2), as the case may be. In addition, the President shall ensure that any such barter is consistent with the international obligations of the United States, including the General Agreement on Tariffs and Trade.

(e) REPORT TO THE CONGRESS.-The Secretary of Energy shall report to the Congress on the effect on energy security and on domestic energy supplies of any action taken under this section which results in the acquisition by the Government of petroleum or petroleum products. Such report shall be submitted to the Congress not later than 90 days after such acquisition.

c. Offsets in Military-Related Exports: Annual Report

Title 50, Appendix, United States Code

§ 2099.1 Annual report on impact of offsets

(a) REPORT REQUIRED.

Not later than 18 months after the date of the enactment of the Defense Production Act Amendments of 1984 2 and annually thereafter, the President shall submit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a detailed report on the impact of offsets on the defense preparedness, industrial competitiveness, employment, and trade of the United States. Each such report also shall include a discussion of bilateral and multilateral negotiations on offsets in international procurement and provide information on the types, terms, and magnitude of the offsets.

(b) 4 INTERAGENCY STUDIES.

(1) IN GENERAL.-Each report under subsection (a) shall be based on requisite interagency studies designed to progressively capture

(A) the long-term as well as the short-term effects of offsets (with particular attention to the effects resulting from technology transfer associated with offset agreements); and (B) the direct effects of offsets on lower tier defense subcontractors and on nondefense industry sectors which may be adversely affected by offsets.

(2) CONTENTS OF REPORTS.-Each report under subsection (a) shall contain an appropriate summary of

(A) the scope of the interagency studies conducted under paragraph (1); and

(B) the findings and conclusions of the agencies involved in the interagency studies (including any differences in the conclusions drawn by such agencies).

1 Sec. 2099 was enacted as sec. 309 of the Defense Production Act Amendments of 1984 (Public Law 98-265; 98 Stat. 152).

2 Enacted April 17, 1984.

3 Executive Order 12521 of June 24, 1985, 50 F.R. 26335 (Offsets in Military Related Exports), delegated preparation and submission of reports to the Director of the Office of Management and Budget (OMB).

* Sec. 4(3) of the Defense Production Act Amendments of 1986 (Public Law 99-441; 100 Stat. 1117) added "(a) Report REQUIRED.-" after "SEC. 309" and added a new subsec. (b).

d. Agricultural Exports

Partial text of Public Law 97-444 [Futures Trading Act of 1982; H.R. 5447], 96 Stat. 2294 at 2326, approved January 11, 1983

AN ACT To extend the Commodity Exchange Act, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Futures Trading Act of 1982".

AGRICULTURAL EXPORTS

SEC. 238. Section 812 of the Agricultural Act of 1970 (7 U.S.C. 612c-3) is amended by adding at the end thereof the following new sentence: "Notwithstanding any other provision of law, the President shall not prohibit or curtail the export of any agricultural commodity or the products thereof under an export sales contract (1) entered into before the President announces an action that would otherwise prohibit or curtail the export of the commodity or products thereof, (2) the terms of which require delivery of the commodity or products thereof within two hundred and seventy days after the date the suspension of trade is imposed, except that the President may prohibit or curtail the export of any commodity or the products thereof during a period for which the President has declared a national emergency or for which Congress has declared war.".

Sec. 812 requires all exporters of certain agricultural commodities to report to the Secretary of Agriculture specified information regarding such exports.

e. Export Administration Amendments Act of 1981

Partial text of Public Law 97-145 [H.R. 3567], 95 Stat. 1727, approved December 29, 1981

AN ACT To authorize appropriations for the fiscal years 1982 and 1983 to carry out the purposes of the Export Administration Act of 1979, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Export Administration Amendments Act of 1981".

SEC. 7. Notwithstanding any other provision of law, no provision of the Export Administration Act of 1979, as amended by this Act, or of any other Act shall be construed to prohibit the exercise of authorities contained in the Export Administration Act of 1979 to impose a total embargo in the event of Soviet or Warsaw Pact military action against Poland.

f. Administration of the Export Administration Act of 1979

Executive Order 12214, May 2, 1980, 45 F.R. 29783

By the authority vested in me as President of the United States of America by Section 4(e) of the Export Administration Act of 1979 (Public Law 96-72; 50 U.S.C. App. 2403(e)), is it hereby ordered as follows;

1-101. Except as provided in Section 1-102, the functions conferred upon the President by the provisions of the Export Administration Act of 1979, hereinafter referred to as the Act (Public Law 96-72; 50 U.S.C. App. 2401 et seq.), are delegated to the Secretary of Commerce.

1-102. (a) The functions conferred upon the President by Sections 4(e), 5(c), 5(f)(1), 5(h)(6), 6(k), 7(d)(2), 10(g) and 20 of the Act are reserved to the President.

(b) The functions conferred upon the President by Sections 5(f)(4), 5(i), and 6(g) of the Act are delegated to the Secretary of State.

1-103. All delegations, rules, regulations, orders, licenses, and other forms of administrative action made, issued or otherwise taken under, or continued in existence by, Section 21 of the Act or Executive Order No. 12002, and not revoked administratively or legislatively, shall remain in full force and effect until amended, modified, or terminated by proper authority. This Order does not supersede or otherwise affect Executive Order No. 12002.1

1-104. Except to the extent inconsistent with this Order, all actions previously taken pursuant to any function delegated or assigned by this Order shall be deemed to have been taken and authorized by this Order.

1 For text of Executive Order 12002, see page 854.