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HR 5405 108th Congress House

Oil Price Safeguard Act

Official title: To provide the Secretary of Energy with authority to draw down the Strategic Petroleum Reserve when oil and gas prices in the United States rise sharply becaus… Show full official titleShow less

Official title: To provide the Secretary of Energy with authority to draw down the Strategic Petroleum Reserve when oil and gas prices in the United States rise sharply because of anticompetitive activity, and to require the President, through the Secretary of Energy, to consult with Congress regarding the sale of oil from the Strategic Petroleum Reserve.

Introduced: November 19, 2004 Introduced by: Larson, John B. Democratic · Connecticut See on congress.gov
Energy Armed Forces and National SecurityCartelsCommerceCongress
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Congressional reporting requirementsEnergy pricesEnergy shortagesEnergy suppliesPetroleum reservesPublic Lands and Natural ResourcesRestrictive trade practicesStrategic materials
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 1, 2004
Referred to the Subcommittee on Energy and Air Quality.
Nov 19, 2004
Referred to the House Committee on Energy and Commerce.
Nov 19, 2004
Sponsor introductory remarks on measure. (CR 11/20/2004 E2110-2111)
Nov 19, 2004
Introduced in House
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 Latest action December 1, 2004

Referred to the Subcommittee on Energy and Air Quality.

 Plain-English summary Congressional Research Service

Oil Price Safeguard Act - Amends the Energy Policy and Conservation Act to declare that a severe energy supply interruption, warranting a drawdown from the Strategic Petroleum Reserve (SPR), shall be deemed to exist if the President determines that: (1) there is a significant reduction in the supply of petroleum of significant scope and duration that has caused a significant increase in the price of petroleum products; (2) the price increase is likely to cause a significant adverse impact on the national economy; and (3) a substantial cause of the reduction in supply is the anticompetitive conduct of foreign countries or international entities.

Requires the President to report to certain congressional committees if the price of a barrel of crude oil exceeds $35 for a period greater than 14 days.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 5405: Oil Price Safeguard Act. 108th Congress. Open America. https://openamerica.io/bill/108-HR-5405/
MLA
"H.R. 5405: Oil Price Safeguard Act." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-5405/.
Bluebook (legal)
H.R. 5405, 108th Cong. (2026), https://openamerica.io/bill/108-HR-5405/.
Markdown link
[H.R. 5405: Oil Price Safeguard Act](https://openamerica.io/bill/108-HR-5405/)
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