[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3791 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 3791

   To provide for the deferment of acquisition of petroleum for the 
        Strategic Petroleum Reserve under certain circumstances.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 15, 2005

Mr. Brown of Ohio (for himself, Mrs. Capps, and Ms. Baldwin) introduced 
 the following bill; which was referred to the Committee on Energy and 
                                Commerce

_______________________________________________________________________

                                 A BILL


 
   To provide for the deferment of acquisition of petroleum for the 
        Strategic Petroleum Reserve under certain circumstances.

    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 ``Oil Reserve Pricing Reform Act''.

SEC. 2. DEFERMENT OF PETROLEUM PURCHASE OVER THRESHOLD.

    (a) Authority to Defer.--In preparing to acquire any barrels of 
petroleum for the Strategic Petroleum Reserve over the 700,000,000 
barrel amount, the Secretary of Energy may defer such acquisition. In 
determining whether to defer such acquisition, the Secretary shall--
            (1) use market-based practices when deciding to acquire 
        petroleum for the Strategic Petroleum Reserve, as used prior to 
        2002;
            (2) carry out and make public analyses of costs and savings 
        when making or deferring such acquisitions;
            (3) take into account and report to Congress the impact the 
        acquisition will have on the domestic and foreign supply of 
        petroleum and the resulting price increases or decreases; and
            (4) consult with the Secretary of Homeland Security on the 
        security consequences of such acquisition or deferral.
    (b) Energy Security Risk Reports.--The Secretary of Energy may, as 
necessary, report on any significant energy security risks that will be 
incurred by deferring the acquisition of barrels of petroleum under 
subsection (a).
                                 <all>