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HR 1807 112th Congress House Energy Energy storage, supplies, demand Oil and gas Presidents and presidential powers, Vice Presidents Strategic materials and reserves

Enhanced SPR Act

Introduced: May 10, 2011 Introduced by: Markey, Edward J. Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 13, 2011
Referred to the Subcommittee on Energy and Power.
May 10, 2011
Referred to the House Committee on Energy and Commerce.
May 10, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Enhanced Supply and Price Reduction Act of 2011 or Enhanced SPR Act - Amends the Energy Policy and Conservation Act to require the Strategic Petroleum Reserve (SPR) to include refined petroleum products within its required capacity of 1 billion barrels of petroleum products.

Authorizes the Secretary of Energy (DOE) to sell at least 30 million barrels of petroleum from the SPR and acquire refined petroleum product. Prescribes a schedule for such transactions.

Directs the Secretary to deposit the cash proceeds from such sales into the SPR Petroleum Account.

Authorizes the President to instruct the Secretary to drawdown and sell or exchange petroleum product from the SPR if a circumstance exists of such significance and scope that action would be warranted to address market manipulation or otherwise be in the public interest.

What's happening now May 13, 2011

Referred to the Subcommittee on Energy and Power.

 Committees of jurisdiction 2