[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3641 Introduced in House (IH)]







106th CONGRESS
  2d Session
                                H. R. 3641

 To require the Secretary of Energy to study causes of the recent home 
 heating fuel price spikes in the Northeast and to create a 10,000,000 
              barrel heating oil reserve in the Northeast.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 10, 2000

 Mr. Sweeney introduced the following bill; which was referred to the 
                         Committee on Commerce

_______________________________________________________________________

                                 A BILL


 
 To require the Secretary of Energy to study causes of the recent home 
 heating fuel price spikes in the Northeast and to create a 10,000,000 
              barrel heating oil reserve in the Northeast.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Home Heating Fuel Price Spike Act of 
2000''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) the recent dramatic price increase of home heating fuel 
        in the Northeast is dangerous for the citizens residing in the 
        area;
            (2) the recent dramatic price increase of home heating fuel 
        in the Northeast has caused long-term damage of the finances of 
        many residents; and
            (3) price surges and fuel shortages are not uncommon in the 
        Northeast region.

 SEC. 3. STUDY.

    (a) Requirement.--The Secretary shall conduct a study to identify 
reasons for the recent home heating fuel shortage and corresponding 
price surge in the Northeast region. As part of the study, the 
Secretary shall propose alternatives to help alleviate future home 
heating fuel shortages and recommendations with respect to the 
suitability and feasibility of each alternative.
    (b) Findings Included in Study.--The study required by subsection 
(a) shall include findings with respect to--
            (1) reasons for the recent shortage of home heating fuel 
        and subsequent price surges;
            (2) identification of the factors contributing to and 
        exacerbating the home heating fuel shortage, including, but not 
        limited to--
                    (A) the role of interruptible service contracts;
                    (B) public and private oil reserve levels;
                    (C) the flow of home heating fuel into the region; 
                and
                    (D) international organization activities to limit 
                world oil supply;
            (3) the types of Federal, State, and local programs that 
        are available to help mitigate the problem of high home heating 
        fuel prices experienced by homeowners;
            (4) the potential use of, and coordination with, Federal, 
        State, and local programs to reduce the possibility of 
        recurring home heating fuel shortages; and
            (5) recommendations for heating fuel suppliers and 
        producers so as to alleviate future price spikes.
    (c) Congressional Review.--The Secretary shall submit a report 
detailing the results of the study required by subsection (a) to the 
Congress not later than 90 days after the date of the enactment of this 
Act.

SEC. 4. HEATING OIL RESERVE.

    (a) Establishment.--The Secretary shall immediately create a 
reserve containing 10,000,000 barrels of heating oil, in one or more 
locations in the Northeast region. The Secretary may fill this reserve 
by trading petroleum products from the Strategic Petroleum Reserve for 
heating oil.
    (b) Drawdown.--The President may immediately drawdown heating oil 
from the reserve established under this section during, or in 
anticipation of, severe home heating fuel price fluctuations, or at any 
other time when the President determines the national interests would 
be served by such drawdown.
    (c) Reports.--Not later than September 30 of each year, the 
Secretary shall transmit to the Congress a report on the status of the 
reserve established under this section.

SEC. 5. DEFINITIONS.

    For purposes of this Act--
            (1) the term ``home heating fuel'' includes heating oil, 
        kerosene, and natural gas;
            (2) the term ``Northeast region'' includes the States of 
        Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, 
        New York, Pennsylvania, Rhode Island, and Vermont; and
            (3) the term ``Secretary'' means the Secretary of Energy.
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