110 HR 5473 IH: Strategic Petroleum Reserve Fill U.S. House of Representatives 2008-02-14 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 2d Session H. R. 5473 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.

1.

Short title

This Act may be cited as the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act of 2008.

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.