Sec. 2. Findings
70 words·~1 min read·
/bill/117/hr/7963/ih/section-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Congress finds the following: On May 5, 2022, the Department of Energy announced a long-term replenishment plan for the Strategic Petroleum Reserve under which the Department intends to begin a rule-making proceeding to consider broadening DOE’s buyback regulations to allow for a competitive, fixed-price bid process as an alternative to the index-pricing that is traditionally used . Such fixed-price bid process is not a traditional mechanism used by oil traders.