[Congressional Record Volume 162, Number 20 (Wednesday, February 3, 2016)]
[Senate]
[Page S621]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3269. Ms. CANTWELL submitted an amendment intended to be proposed 
to amendment SA 2953 proposed by Ms. Murkowski to the bill S. 2012, to 
provide for the modernization of the energy policy of the United 
States, and for other purposes; which was ordered to lie on the table; 
as follows:

       Beginning on page 385, strike line 11 and all that follows 
     through page 389, line 18, and insert the following: provide 
     notice of a plan to collect information identifying all oil 
     inventories, and other physical oil assets (including all 
     petroleum-based products and the storage of such products in 
     off-shore tankers), that are owned by the 50 largest traders 
     of oil contracts (including derivative contracts); and
       ``(B) not later than 90 days after the date on which notice 
     is provided under subparagraph (A), implement the plan 
     described in that subparagraph.
       ``(2) Information.--The plan required under paragraph (1) 
     shall include a description of the plan of the Administrator 
     for collecting company-specific data, including--
       ``(A) volumes of product under ownership; and
       ``(B) storage and transportation capacity (including owned 
     and leased capacity).
       ``(3) Protection of proprietary information.--Section 12(f) 
     of the Federal Energy Administration Act of 1974 (15 U.S.C. 
     771(f)) shall apply to information collected under this 
     subsection.
       ``(o) Collection of Information on Storage Capacity for Oil 
     and Natural Gas.--
       ``(1) In general.--Not later than 90 days after the date of 
     enactment of this subsection, the Administrator of the Energy 
     Information Administration shall collect information 
     quantifying the commercial storage capacity for oil and 
     natural gas in the United States.
       ``(2) Updates.--The Administrator shall update annually the 
     information required under paragraph (1).
       ``(3) Protection of proprietary information.--Section 12(f) 
     of the Federal Energy Administration Act of 1974 (15 U.S.C. 
     771(f)) shall apply to information collected under this 
     subsection.
       ``(p) Financial Market Analysis Office.--
       ``(1) Establishment.--There shall be within the Energy 
     Information Administration a Financial Market Analysis 
     Office.
       ``(2) Duties.--The Office shall--
       ``(A) be responsible for analysis of the financial aspects 
     of energy markets;
       ``(B) review the reports required by section 4503(c) of the 
     Energy Policy Modernization Act of 2016 in advance of the 
     submission of the reports to Congress; and
       ``(C) not later than 1 year after the date of enactment of 
     this subsection--
       ``(i) make recommendations to the Administrator of the 
     Energy Information Administration that identify and quantify 
     any additional resources that are required to improve the 
     ability of the Energy Information Administration to more 
     fully integrate financial market information into the 
     analyses and forecasts of the Energy Information 
     Administration;
       ``(ii) conduct a review of implications of policy changes 
     (including changes in export or import policies) and changes 
     in how crude oil and refined petroleum products are 
     transported with respect to price formation of crude oil and 
     refined petroleum products; and
       ``(iii) notify the Committee on Energy and Natural 
     Resources, the Committee on Appropriations, and the Committee 
     on Agriculture of the Senate and the Committee on Energy and 
     Commerce, the Committee on Appropriations, and the Committee 
     on Agriculture of the House of Representatives of the 
     recommendations described in clause (i).
       ``(3) Analyses.--The Administrator of the Energy 
     Information Administration shall take analyses by the Office 
     into account in conducting analyses and forecasting of energy 
     prices.''.
       (b) Conforming Amendment.--Section 645 of the Department of 
     Energy Organization Act (42 U.S.C. 7255) is amended by 
     inserting ``(15 U.S.C. 3301 et seq.) and the Natural Gas Act 
     (15 U.S.C. 717 et seq.)'' after ``Natural Gas Policy Act of 
     1978''.

     SEC. 4502. WORKING GROUP ON ENERGY MARKETS.

       (a) Establishment.--There is established a Working Group on 
     Energy Markets (referred to in this section as the ``Working 
     Group'').
       (b) Composition.--The Working Group shall be composed of--
       (1) the Secretary;
       (2) the Secretary of the Treasury;
       (3) the Chairman of the Federal Energy Regulatory 
     Commission;
       (4) the Chairman of Federal Trade Commission;
       (5) the Chairman of the Securities and Exchange Commission; 
     and
       (6) the Administrator of the Energy Information 
     Administration.
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