II 110th CONGRESS 1st Session S. 2506 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.

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. .