[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 2506 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 2506

 To amend the Energy Policy and Conservation Act to modify a provision 
      relating to the Northeast Home Heating Oil Reserve Account.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 18, 2007

  Ms. Snowe (for herself and Mr. Dodd) introduced the following bill; 
   which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 A BILL


 
 To amend the Energy Policy and Conservation Act to modify a provision 
      relating to the Northeast Home Heating Oil Reserve Account.

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

SECTION 1. NORTHEAST HOME HEATING OIL RESERVE ACCOUNT.

    Section 183 of the Energy Policy and Conservation Act (42 U.S.C. 
6250b) is amended by striking subsection (a) and inserting the 
following:
    ``(a) Finding.--
            ``(1) In general.--The Secretary may sell products from the 
        Reserve only on a finding by the President that--
                    ``(A) there is a severe energy supply interruption; 
                or
                    ``(B) the price of home heating oil threatens the 
                health and safety of residents of the Northeast.
            ``(2) Requirement.--The President may make a finding under 
        paragraph (1) only if the President determines that--
                    ``(A) a dislocation in the heating oil market has 
                resulted from an interruption described in paragraph 
                (1)(A);
                    ``(B) the price of home heating oil has increased 
                by such an extent that the Northeast is experiencing, 
                or will experience, an emergency situation that 
                threatens the safety and health of residents of the 
                Northeast; or
                    ``(C)(i) a circumstance (other than a circumstance 
                described in subparagraph (A) or (B)) exists that 
                constitutes a regional supply shortage of significant 
                scope and duration; and
                    ``(ii) action taken under this section would assist 
                directly and significantly in reducing the adverse 
                impact of the shortage.''.
                                 <all>