[Congressional Record Volume 169, Number 15 (Tuesday, January 24, 2023)]
[House]
[Page H282]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

H.R. 21

                      Offered by: Ms. Jackson Lee

       Amendment No. 37: Insert on page 2 line 9 following 
     ``Except in the case of'' insert ``Exchanges, which are an 
     authorized procedure for oil acquisitions, or'' 42 USC 161(i) 
     or'' This amendment allows the beneficial arrangement that 
     exists that allow refiners to acquire crude of higher value 
     than what they will be required to return to the reserve. 
     They can lock in the differential between the current 
     contract price and the future price in outer months and 
     years.
       Insert at the appropriate section of the bill the 
     following; This amendment and future amendments shall not go 
     into effect until the Secretary provides a report on the 
     necessity of acting under the authority of this section to 
     refill the Strategic Petroleum Reserve.
       The program for office is mandated by law to coordinate 
     with the industry on steps taken under title 42 6231