[Congressional Record Volume 144, Number 64 (Tuesday, May 19, 1998)]
[House]
[Pages H3429-H3430]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




EXTENDING CERTAIN PROGRAMS UNDER THE ENERGY POLICY AND CONSERVATION ACT

  Mr. DAN SCHAEFER of Colorado. Mr. Speaker, I move to suspend the 
rules and concur in the Senate amendment to the House amendment to the 
Senate amendment to the bill (H.R. 2472) to extend certain programs 
under the Energy Policy and Conservation Act.
  The Clerk read as follows:
       Senate amendment to House amendment to Senate amendment:
       In lieu of the matter proposed to be inserted by the House 
     amendment, insert:

     SECTION 1. ENERGY POLICY AND CONSERVATION ACT AMENDMENTS.

       The Energy Policy and Conservation Act is amended--
       (1) in section 166 (42 U.S.C. 6246) by striking ``1997'' 
     and inserting in lieu thereof ``1999'';
       (2) in section 181 (42 U.S.C. 6251) by striking ``1997'' 
     both places it appears and inserting in lieu thereof 
     ``1999'';
       (3) by striking ``section 252(l)(1)'' in section 251(e)(1) 
     (42 U.S.C. 6271(e)(1)) and inserting ``section 252(k)(1)'';
       (4) in section 252 (42 U.S.C. 6272)--
       (A) in subsections (a)(1) and (b), by striking ``allocation 
     and information provisions of the international energy 
     program'' and inserting ``international emergency response 
     provisions'';
       (B) in subsection (d)(3), by striking ``known'' and 
     inserting after ``circumstances'' ``known at the time of 
     approval'';
       (C) in subsection (e)(2) by striking ``shall'' and 
     inserting ``may'';
       (D) in subsection (f)(2) by inserting ``voluntary agreement 
     or'' after ``approved'';
       (E) by amending subsection (h) to read as follows:
       ``(h) Section 708 of the Defense Production Act of 1950 
     shall not apply to any agreement or action undertaken for the 
     purpose of developing or carrying out--
       ``(1) the international energy program, or
       ``(2) any allocation, price control, or similar program 
     with respect to petroleum products under this Act.'';
       (F) in subsection (k) by amending paragraph (2) to read as 
     follows:
       ``(2) The term `international emergency response 
     provisions' means--
       ``(A) the provisions of the international energy program 
     which relate to international allocation of petroleum 
     products and to the information system provided in the 
     program, and
       ``(B) the emergency response measures adopted by the 
     Governing Board of the International Energy Agency (including 
     the July 11, 1984, decision by the Governing Board on `Stocks 
     and Supply Disruptions') for--
       ``(i) the coordinated drawdown of stocks of petroleum 
     products held or controlled by governments; and
       ``(ii) complementary actions taken by governments during an 
     existing or impending international oil supply disruption.''; 
     and
       (G) by amending subsection (l) to read as follows:
       ``(l) The antitrust defense under subsection (f) shall not 
     extend to the international allocation of petroleum products 
     unless allocation is required by chapters III and IV of the 
     international energy program during an international energy 
     supply emergency.''; and
       (5) in section 281 (42 U.S.C. 6285) by striking ``1997'' 
     both places it appears and inserting in lieu thereof 
     ``1999''.
       (6) at the end of section 154 by adding the following new 
     subsection:
       ``(f)(1) The drawdown and distribution of petroleum 
     products from the Strategic Petroleum Reserve is authorized 
     only under section 161 of this Act, and drawdown and 
     distribution of petroleum products for purposes other than 
     those described in section 161 of this Act shall be 
     prohibited.
       ``(2) In the Secretary's annual budget submission, the 
     Secretary shall request funds for acquisition, 
     transportation, and injection of petroleum products for 
     storage in the Reserve. If no requests for funds is made, the 
     Secretary shall provide a written explanation of the reason 
     therefore.''.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Colorado (Mr. Dan Schaefer) and the gentleman from Texas (Mr. Hall) 
each will control 20 minutes.
  The Chair recognizes the gentleman from Colorado (Mr. Dan Schaefer).


                             General Leave

  Mr. DAN SCHAEFER of Colorado. Mr. Speaker, I ask unanimous consent 
that all Members may have 5 legislative days within which to revise and 
extend their remarks and include extraneous material on the bill, H.R. 
2472, as amended.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Colorado?
  There was no objection.

                              {time}  1600

  Mr. DAN SCHAEFER of Colorado. Mr. Speaker, I yield myself such time 
as I may consume.
  Mr. Speaker, this bill reauthorizes provisions of the Energy Policy 
and Conservation Act relating to the Strategic Petroleum Reserve and 
U.S. participation in the International Energy Agreement through fiscal 
year 1999. These provisions, which expired on September 30, assure that 
if there is any emergency dealing with energy at all, the President's 
authority to draw down the Strategic Petroleum Reserve is preserved and 
the ability of U.S. oil companies to participate in the International 
Energy Agreement without violating the antitrust laws is expanded and 
extended.
  Because of their importance to U.S. national energy security, I 
believe these programs should be reauthorized. And with the decision by 
the President and the appropriators to stop the budgetary sales of oil 
from the Strategic Petroleum Reserve, I believe it is now appropriate 
to pass a long-term extension. I certainly do appreciate that fact 
because that has been a long-standing problem that we have had selling 
off our oil.
  In recent years, with respect to the Strategic Petroleum Reserve, 
this body has been penny wise and pound foolish. For the past 3 years, 
we have allowed our energy security, for which we paid for so dearly, 
to be sold at less than half of what it cost us. If the most recent 
sale had gone through with today's oil prices being so low, the 
taxpayers would have lost at least $175 million, but they would also 
have lost something even more important, the energy security in this 
country.
  In the past decade of low oil prices and steady supply, we have 
become increasingly dependent on foreign oil. We now rely on oil 
imports to meet more than half of our daily petroleum needs. Moreover, 
we have become complacent about how vulnerable that dependence makes 
the United States.
  When oil prices fell to record lows recently, OPEC and non-OPEC 
producing countries began to restrict production in order to boost the 
prices. While we are still a long way from the oil embargo of the 
1970s, our vulnerability remains, and we must guard carefully the

[[Page H3430]]

energy security we have built up with the Strategic Petroleum Reserve.
  Mr. Speaker, the provisions contained in H.R. 2472 will help the 
United States preserve its energy security. It is a good bill, and I 
endorse its adoption wholeheartedly.
  Finally, there are several conservation-related programs contained in 
EPCA which were discussed at the subcommittee hearing that are not 
included in this bill that we are considering today, but we do have a 
bill coming up that would extend these programs as well. I intend to 
work with the interested parties to mark up that bill and reauthorize 
those programs in the near future.
  Mr. Speaker, before I reserve the balance of my time, I would like to 
thank my good friend, the gentleman from Texas (Mr. Hall), for his 
continual support on this issue. I know that coming from the State of 
Texas it is very important to him.
  Mr. Speaker, I reserve the balance of my time.
  Mr. HALL of Texas. Mr. Speaker, I yield myself such time as I may 
consume.
  I will be brief because, as usual, the gentleman from Colorado (Mr. 
Dan Schaefer) has done a good job of laying out the reasons for 
supporting H.R. 2472. It simply reauthorizes the key sections of the 
Energy Policy and Conservation Act. The underlying House bill was 
handled in a bipartisan manner in the Committee on Commerce and passed 
on a voice vote.
  Actually, the changes that are made herein are supported by both 
industry and the administration, of course supported by the 
subcommittee and the committee. I know of no objection to this 
legislation.
  Last winter's instability in the Middle East pretty well underscored 
how quickly circumstances can change. It was a volatile situation that 
served as a reminder of the need for the United States to be energy 
independent.
  This will ensure that the United States and the industry will be able 
to fulfill their duties in any oil-related emergency. For that reason I 
thank the gentleman from Virginia (Mr. Bliley) and the gentleman from 
Colorado (Mr. Dan Schaefer) for bringing this important bill to the 
House floor. It is important to our country's economic and energy 
security, and I am pleased to support this legislation.
  Mr. Speaker, I yield back the balance of my time.
  Mr. DAN SCHAEFER of Colorado. Mr. Speaker, I yield back the balance 
of my time.
  The SPEAKER pro tempore (Mr. Shimkus). The question is on the motion 
offered by the gentleman from Colorado (Mr. Dan Schaefer) that the 
House suspend the rules and concur in the Senate amendment to the House 
amendment to the Senate amendment to the bill, H.R. 2472.
  The question was taken; and (two-thirds having voted in favor 
thereof) the rules were suspended and the Senate amendment to the House 
amendment to the Senate amendment was concurred in.
  A motion to reconsider was laid on the table.

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