Sec. 301. PERMANENT AUTHORITY TO OPERATE THE STRATEGIC PETROLEUM RESERVE AND OTHER ENERGY PROGRAMS

764 words·~3 min read·/statute-compilations/comps-10914/sec-301

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 301 PERMANENT AUTHORITY TO OPERATE THE STRATEGIC PETROLEUM RESERVE AND OTHER ENERGY PROGRAMS ###

(a)Amendment to Title I of the Energy Policy and Conservation Act Title I of the Energy Policy and Conservation Act (42 U.S.C. 6212 et seq.) is amended— ####

(1)by striking section 166 (42 U.S.C. 6246) and inserting the following: > > ## Sec. 166 “AUTHORIZATION OF APPROPRIATIONS > > There are authorized to be appropriated to the Secretary such sums as are necessary to carry out this part and part D, to remain available until expended.” > ; ####

(2)by striking section 186 (42 U.S.C. 6250e); and ####

(3)by striking part E (42 U.S.C. 6251). ###

(b)Amendment to Title II of the Energy Policy and Conservation Act Title II of the Energy Policy and Conservation Act (42 U.S.C. 6271 et seq.) is amended— ####

(1)by inserting before section 273 (42 U.S.C. 6283) the following: > > ### “PART C SUMMER FILL AND FUEL BUDGETING PROGRAMS” > ; ####

(2)by striking section 273(e) (42 U.S.C. 6283(e)); and ####

(3)by striking part D (42 U.S.C. 6285). ###

(c)Technical Amendments The table of contents for the Energy Policy and Conservation Act is amended— ####

(1)by inserting after the items relating to part C of title I the following:" “Part D—Northeast Home Heating Oil Reserve “Sec. 181. Establishment. “Sec. 182. Authority. “Sec. 183. Conditions for release; plan. “Sec. 184. Northeast Home Heating Oil Reserve Account. “Sec. 185. Exemptions.” "; ####

(2)by amending the items relating to part C of title II to read as follows:" “Part C—Summer Fill and Fuel Budgeting Programs “Sec. 273. Summer fill and fuel budgeting programs.” ";and ####

(3)by striking the items relating to part D of title II. ###

(d)Amendment to the Energy Policy and Conservation Act Section 183(b)(1) of the Energy Policy and Conservation Act (42 U.S.C. 6250b(b)(1)) is amended by striking “by more” and all that follows through “mid-October through March” and inserting “by more than 60 percent over its 5-year rolling average for the months of mid-October through March (considered as a heating season average)”. ###

(e)Fill Strategic Petroleum Reserve to Capacity ####

(1)In general The Secretary shall, as expeditiously as practicable, without incurring excessive cost or appreciably affecting the price of petroleum products to consumers, acquire petroleum in quantities sufficient to fill the Strategic Petroleum Reserve to the 1,000,000,000-barrel capacity authorized under section 154(a) of the Energy Policy and Conservation Act (42 U.S.C. 6234(a)), in accordance with the sections 159 and 160 of that Act (42 U.S.C. 6239, 6240). ####

(2)Procedures #####

(A)Amendment Section 160 of the Energy Policy and Conservation Act (42 U.S.C. 6240) is amended by inserting after subsection

(b)the following new subsection: > > ### “(c) Procedures > > The Secretary shall develop, with public notice and opportunity for comment, procedures consistent with the objectives of this section to acquire petroleum for the Reserve. Such procedures shall take into account the need to— > > > #### “(1) > > maximize overall domestic supply of crude oil (including quantities stored in private sector inventories); > > > #### “(2) > > avoid incurring excessive cost or appreciably affecting the price of petroleum products to consumers; > > > #### “(3) > > minimize the costs to the Department of the Interior and the Department of Energy in acquiring such petroleum products (including foregone revenues to the Treasury when petroleum products for the Reserve are obtained through the royalty-in-kind program); > > > #### “(4) > > protect national security; > > > #### “(5) > > avoid adversely affecting current and futures prices, supplies, and inventories of oil; and > > > #### “(6) > > address other factors that the Secretary determines to be appropriate.” > . #####

(B)Review of requests for deferrals of scheduled deliveries The procedures developed under section 160(c) of the Energy Policy and Conservation Act, as added by subparagraph (A), shall include procedures and criteria for the review of requests for the deferrals of scheduled deliveries. #####

(C)Deadlines The Secretary shall— ######

(i)propose the procedures required under the amendment made by subparagraph

(A)not later than 120 days after the date of enactment of this Act; ######

(ii)promulgate the procedures not later than 180 days after the date of enactment of this Act; and ######

(iii)comply with the procedures in acquiring petroleum for the Reserve effective beginning on the date that is 180 days after the date of enactment of this Act.

Connectionstraces to 11

Traces to 11 documents

U.S. Code