H.R. 2908 would provide for the sale of light grade petroleum from the Strategic Petroleum Reserve and its replacement with heavy grade petroleum.
Detailed Summary
Enhanced Supply and Price Reduction Act of 2009 - Directs the Secretary of Energy to publish a plan to: (1) sell light grade petroleum from the Strategic Petroleum Reserve (SPR) and acquire an equivalent volume of heavy grade petroleum or refined petroleum product; (2) deposit the cash proceeds from such sales into the SPR Petroleum Account established under the Energy Policy and Conservation Act; and (3) withdraw, from the cash proceeds deposited, the amount necessary to pay for the direct administrative and operational costs of the sale and acquisition.
Status of the Legislation
Latest Major Action: 6/17/2009: Referred to House committee. Status: Referred to the House Committee on Energy and Commerce.
Points in Favor
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Points Against
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