US HB1850

Amends the Consolidated Appropriations Act of 2016 to restrict the President's authority to impose export licensing requirements or restrictions on crude oil exports from the United States

Requires three Cabinet secretaries (Defense, Energy, and Commerce) to jointly find and report to the President and Congress that crude oil exports have caused sustained material oil supply shortages or prices significantly above world market levels before restrictions can be imposed

Mandates that any supply shortages or price increases must have caused or be likely to cause sustained material adverse employment effects in the United States

Requires the President to formally declare a national emergency based on the joint secretarial report and publish the declaration in the Federal Register before implementing export restrictions

Removes an existing provision (subparagraph C) that previously allowed additional circumstances under which the President could restrict crude oil exports