Detailed Summary

Strategic Refinery Reserve Act of 2007 - Directs the Secretary of Energy to establish and operate a Strategic Refinery Reserve.

Authorizes the Secretary to contract for: (1) the construction or operation of new refineries; or (2) the acquisition or reopening of closed refineries.

Instructs the Secretary to operate the Reserve to provide petroleum products to: (1) the federal government (including the Department of Defense); (2) any state governments and their political subdivisions that opt to purchase refined petroleum products from the Reserve; and (3) the general public during certain emergency periods.

Directs the Secretary to ensure that refineries in the Reserve are designed to provide a rapid increase in production capacity during such emergency periods.

Requires a refinery owner or operator to notify the Secretary, with an explanation, not later than 180 days before permanently closing a refinery in the United States. Requires the Secretary to report the notification and explanation to Congress, together with an analysis of the effects of the proposed closing.

Status of the Legislation

Latest Major Action: 3/29/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Energy and Natural Resources.

Points in Favor

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Points Against

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