S 1951
106th Congress
Senate
Energy
Armed Forces and National Security
Commerce
Congress
Congressional reporting requirements
Economic impact statements
Economics and Public Finance
Energy supplies
Foreign Trade and International Finance
Government trust funds
Heating
Petroleum industry
Petroleum prices
Petroleum reserves
Restrictive trade practices
Strategic materials
Oil Price Safeguard Act
Introduced: November 17, 1999
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 9, 2000
Sponsor introductory remarks on measure. (CR S1370-1371)
Nov 17, 1999
Read twice and referred to the Committee on Energy and Natural Resources.
Nov 17, 1999
Sponsor introductory remarks on measure. (CR S14734-14735)
Nov 17, 1999
Introduced in Senate
Plain-English summary
Oil Price Safeguard Act - Amends the Energy Policy and Conservation Act to expand the circumstances under which a severe energy supply interruption shall be deemed to exist (thus permitting a drawdown of the Strategic Petroleum Reserve (SPR). Provides for the deeming of such an interruption when oil and gas prices in the United States increase to a level likely to cause a significant adverse impact on the national economy as a result of the anticompetitive conduct of one or more foreign countries or international entities.
Directs the President to present a status report to certain congressional committees if the price of a barrel of crude oil exceeds a specified price for a period greater than 14 days, including: (1) the impact upon the price of home heating oil; and (2) whether the President supports a drawdown and distribution from the SPR.
What's happening now
Sponsor introductory remarks on measure. (CR S1370-1371)
Committees of jurisdiction
1