[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5473 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 5473

 To increase the supply and lower the cost of petroleum by temporarily 
  suspending the acquisition of petroleum for the Strategic Petroleum 
                                Reserve.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 14, 2008

Mr. Welch of Vermont introduced the following bill; which was referred 
                to the Committee on Energy and Commerce

_______________________________________________________________________

                                 A BILL


 
 To increase the supply and lower the cost of petroleum by temporarily 
  suspending the acquisition of petroleum for the Strategic Petroleum 
                                Reserve.

    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 ``Strategic Petroleum Reserve Fill 
Suspension and Consumer Protection Act of 2008''.

SEC. 2. SUSPENSION OF PETROLEUM ACQUISITION FOR STRATEGIC PETROLEUM 
              RESERVE.

    (a) In General.--Except as provided in subsection (b) and 
notwithstanding any other provision of law, during calendar year 2008, 
the Secretary of Energy shall suspend acquisition of petroleum for the 
Strategic Petroleum Reserve through the royalty-in-kind program or any 
other acquisition method.
    (b) Resumption.--The Secretary may resume acquisition of petroleum 
for the Strategic Petroleum Reserve through the royalty-in-kind program 
or any other acquisition method during calendar year 2008 not earlier 
than 30 days after the date on which the Secretary notifies Congress 
that the Secretary has determined that the weighted average price of 
petroleum in the United States for the most recent 90-day period is $50 
or less per barrel.
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