[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5252 Introduced in House (IH)]







106th CONGRESS
  2d Session
                                H. R. 5252

   To require the release of petroleum from the Strategic Petroleum 
Reserve to address the burdens on the citizens of the United States of 
  the anticipated high home heating costs of the winter of 2000-2001.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 21, 2000

Mr. Franks of New Jersey (for himself and Mr. Frelinghuysen) introduced 
  the following bill; which was referred to the Committee on Commerce

_______________________________________________________________________

                                 A BILL


 
   To require the release of petroleum from the Strategic Petroleum 
Reserve to address the burdens on the citizens of the United States of 
  the anticipated high home heating costs of the winter of 2000-2001.

    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 ``Release Our Reserve Now Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) the United States is facing a national energy crisis, 
        and the President has not exercised the authority provided 
        under the Energy Policy and Conservation Act to draw down the 
        Strategic Petroleum Reserve to address that crisis;
            (2) home heating oil prices for the coming winter could 
        jump 40 percent higher than they were last winter because of 
        historically low inventories;
            (3) natural gas prices could be 55 percent higher than they 
        were last winter because of historically low inventories;
            (4) anticipated and unprecedented home heating oil costs 
        will continue to place a financial strain on families and small 
        business owners nationwide; and
            (5) it is imperative that steps be taken now to address the 
        needs of low-income families and seniors living on fixed 
        incomes before the cold weather starts.

SEC. 3. REQUIRED DRAWDOWN.

    The President shall immediately take such actions as are necessary 
to result in a drawdown of petroleum from the Strategic Petroleum 
Reserve to address the burdens on the citizens of the United States of 
the anticipated high home heating costs of the winter of 2000-2001. The 
President shall ensure that petroleum products released pursuant to 
this Act are not sold outside the United States.
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