Sec. 4501. Enhanced information on critical energy supplies
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Section 205 of the Department of Energy Organization Act ( 42 U.S.C. 7135 ) is amended by adding at the end the following: To ensure transparency of information relating to energy infrastructure and product ownership in the United States and improve the ability to evaluate the energy security of the United States, the Administrator, in consultation with other Federal agencies (as necessary), shall— not later than 120 days after the date of enactment of this subsection, develop and provide notice of a plan to collect, in cooperation with the Commodity Futures Trade Commission, information identifying all oil inventories, and other physical oil assets (including all petroleum-based products and the storage of such products in off-shore tankers), that are owned by the 50 largest traders of oil contracts (including derivative contracts), as determined by the Commodity Futures Trade Commission; and not later than 90 days after the date on which notice is provided under subparagraph (A), implement the plan described in that subparagraph.
The plan required under paragraph
(1)shall include a description of the plan of the Administrator for collecting company-specific data, including— volumes of product under ownership; and storage and transportation capacity (including owned and leased capacity). Section 12(f) of the Federal Energy Administration Act of 1974 ( 15 U.S.C. 771(f) ) shall apply to information collected under this subsection. Not later than 90 days after the date of enactment of this subsection, the Administrator of the Energy Information Administration shall collect information quantifying the commercial storage capacity for oil and natural gas in the United States. The Administrator shall update annually the information required under paragraph (1). Section 12(f) of the Federal Energy Administration Act of 1974 ( 15 U.S.C. 771(f) ) shall apply to information collected under this subsection. There shall be within the Energy Information Administration a Financial Market Analysis Office. The Office shall— be responsible for analysis of the financial aspects of energy markets; review the reports required by section 4503(c) of the Energy Policy Modernization Act of 2015 in advance of the submission of the reports to Congress; and not later than 1 year after the date of enactment of this subsection— make recommendations to the Administrator of the Energy Information Administration that identify and quantify any additional resources that are required to improve the ability of the Energy Information Administration to more fully integrate financial market information into the analyses and forecasts of the Energy Information Administration, including the role of energy futures contracts, energy commodity swaps, and derivatives in price formation for oil; conduct a review of implications of policy changes (including changes in export or import policies) and changes in how crude oil and refined petroleum products are transported with respect to price formation of crude oil and refined petroleum products; and notify the Committee on Energy and Natural Resources, and the Committee on Appropriations, of the Senate and the Committee on Energy and Commerce, and the Committee on Appropriations, of the House of Representatives of the recommendations described in clause (i). The Administrator of the Energy Information Administration shall take analyses by the Office into account in conducting analyses and forecasting of energy prices. . Section 645 of the Department of Energy Organization Act ( 42 U.S.C. 7255 ) is amended by inserting ( after 15 U.S.C. 3301 et seq. ) and the Natural Gas Act ( 15 U.S.C. 717 et seq. ) Natural Gas Policy Act of 1978 .
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Sec. 4501
Enhanced information on critical energy supplies
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