Safeguarding Our Stockpiles Act
Strategic Production Response Act or the SPR Act This bill limits the drawdown of petroleum in the Strategic Petroleum Reserve (SPR) until the Department of Interior issues a plan or updates a previously issued plan to increase the production of oil and gas on federal land. However, Interior may drawdown petroleum in the SPR if there is a severe energy supply interruption. The bill defines federal land to (1) include Outer Continental Shelf land; and (2) exclude land otherwise not available for oil and gas development within the National Park System, the National Wildlife Refuge System, the National Wilderness Preservation System, a National Marine Sanctuary, or Indian land.
Strategic Production Response and Implementation Act
Strategic Production Response and Implementation ActThis bill modifies the Energy Policy and Conservation Act to prohibit the Department of Energy (DOE) from drawing down petroleum products in the Strategic Petroleum Reserve until DOE develops and implements a plan to increase the percentage of federal lands leased for oil and gas production. The increase must be equal to the percentage of petroleum in the Strategic Petroleum Reserve that is to be drawn down. However, the bill does not apply to a drawdown of petroleum products in the case of a severe energy supply interruption, which is permitted under current law. The plan must not provide for a total increase in the percentage of federal lands leased for oil and gas production in excess of 10%.
Strategically Lowering Gas Prices Act
Buy Low and Sell High Act This bill revises requirements concerning the Strategic Petroleum Reserve (SPR) and sets forth provisions to reduce the demand for petroleum fuel and increase fuel supply. For example, the bill directs the Department of Energy (DOE) to establish within the SPR an Economic Petroleum Reserve of up to 350 million barrels of crude oil. DOE must also establish a national network of Strategic Refined Petroleum Product Reserves to store up to 250 million barrels of gasoline and diesel fuel, which may be sold when there is a severe fuel supply interruption within the district in which the reserve is located. In addition, the bill increases the cap on the amount of barrels of petroleum distillate that may be stored in the Northeast Home Heating Oil Reserve from two million to four million. It also establishes limits on the sale and exportation of petroleum products from such reserves. Further, the bill establishes provisions concerning electrifying the transportation sector, zero-emission vehicles, and a program to increase the amount of crude oil refined in oil refineries in certain countries in the Western Hemisphere.
Strategic Production Response Act This bill limits the drawdown of petroleum in the Strategic Petroleum Reserve until the Department of Energy develops a plan to increase the percentage of federal lands leased for oil and gas production.
A bill to amend the Foreign Assistance Act of 1961 to clarify the meaning of the term "aggregate value" for purposes of the Presidential drawdown authority.