H.R. 6022 would suspend the acquisition of petroleum for the Strategic Petroleum Reserve.
Detailed Summary
<b>(This measure has not been amended since it was introduced. The summary of that version is repeated here.)</b>
Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act of 2008 - Directs the Secretary of the Interior to suspend petroleum acquisition for the Strategic Petroleum Reserve (SPR) through the royalty-in-kind program during the period between enactment of this Act and December 31, 2008.
Instructs the Secretary of Energy to suspend petroleum acquisition for the SPR through any acquisition method during such period.
Authorizes both Secretaries to resume acquisition during such period, but no earlier than 30 days after the President notifies Congress that the weighted average price of petroleum in the United States for the most recent 90-day period is $75 or less per barrel.
Directs the Secretary of Energy, to the extent practicable, to: (1) accept delivery of royalty-in-kind oil scheduled for delivery to the Department of Energy (DOE) for the SPR pursuant to an existing contract with the Secretary of the Interior; and (2) negotiate deferral of any oil delivery scheduled for the SPR pursuant to a contract entered into by DOE before, and in effect on, the date of enactment of this Act.
Status of the Legislation
Latest Major Action: 5/19/2008: Presented to President.
Points in Favor
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Points Against
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Visitor Comments
John
May 14, 2008, 5:24pm (report abuse)Let me get this straight, you won't drill in Alaska which we know has millions of barrals of oil because there isn't enough. But will pass a bill, aimed at lowering oil prices and save the equivilent of 19 hours of US oil consumption in 1 year
Mia
May 27, 2008, 11:19am (report abuse)Congress needs to wake up. Drill for the d*mn oil. Build more nuclear power plans. Build clean coal plants. Get off the Saudi teet. Do alternative fuels that don't use our food supply. Come on Congress, who do you work for? Do you work for the environmentalists or us, the people paying the bills???