Sec. 103. Northeast Home Heating Oil Reserve
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Section 181(a) of the Energy Policy and Conservation Act ( 42 U.S.C. 6250 ) is amended by striking 2 million and inserting 4 million . Section 183 of the Energy Policy and Conservation Act ( 42 U.S.C. 6250b ) is amended— in subsection (b)— in the subsection heading, by striking and inserting Definition ; Definitions by redesignating paragraphs
(1)and
(2)as subparagraphs
(A)and (B), respectively (and adjusting the margins accordingly); by striking For purposes of this section a and inserting the following: “For purposes of this section— dislocation in the heating oil market the term covered entity means— the People’s Republic of China; the Democratic People’s Republic of Korea; the Russian Federation; the Islamic Republic of Iran; any other country the government of which is subject to sanctions imposed by the United States; and any entity owned, controlled, or influenced by— a country referred to in any of subparagraphs
(A)through (F); or the Chinese Communist Party; and a dislocation in the heating oil market ; and in subsection (d)— in paragraph (2), by striking ; and and inserting a semicolon; in paragraph (3), by striking the period at the end and inserting ; and ; and by adding at the end the following: the Secretary shall prohibit the sale or export of petroleum distillate released under this section to a covered entity, except that the Secretary may issue a waiver of such prohibition if the Secretary certifies that any export or sale authorized pursuant to the waiver is in the national security interests of the United States. . Section 184 of the Energy Policy and Conservation Act ( 42 U.S.C. 6250c ) is amended to read as follows: The Secretary of the Treasury shall deposit in the SPR Petroleum Account established in the Treasury under section 167 any receipts from the sale, exchange, or other disposition of petroleum distillate from the Reserve. . The table of contents for the Energy Policy and Conservation Act is amended by striking the item relating section 184 and inserting the following: 184. Proceeds from sales. . Title III of the Energy and Water Development and Related Agencies Appropriations Act, 2012 (division B of the Consolidated Appropriations Act, 2012 ( Public Law 112–74 ; 125 Stat. 869)), is amended, under the Northeast Home Heating Oil Reserve account, by striking . : Provided further , That notwithstanding section 181 of the Energy Policy and Conservation Act ( 42 U.S.C. 6250 ), for fiscal year 2012 and hereafter, the Reserve shall contain no more than 1 million barrels of petroleum distillate
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- Pub. L. 112-74
- 125 Stat. 869
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Sec. 103
Northeast Home Heating Oil Reserve
Pub. L.Pub. L. 112-74
Stat.125 Stat. 869
Cites 5Cited by 0 across 0 sources