[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 2598 Introduced in Senate (IS)]







110th CONGRESS
  2d Session
                                S. 2598

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            February 6, 2008

   Mr. Dorgan (for himself, Mr. Bingaman, Mr. Levin, Mr. Kerry, Ms. 
 Collins, Mr. Lieberman, and Mr. Wyden) introduced the following bill; 
   which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 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 under subsection (a) 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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