Summary: S.694 — 101st Congress (1989-1990)All Information (Except Text)

Bill summaries are authored by CRS.

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Senate agreed to House amendment with amendment (06/23/1989)

Amends the Energy Policy and Conservation Act to extend from June 30, 1989, to April 1, 1990, the authority granted under the Act regarding domestic energy supply availability, especially the Strategic Petroleum Reserve.

Directs the Secretary of Energy to report by a specified date to certain congressional committees regarding alternative means of financing the filling of the Strategic Petroleum Reserve to 1,000,000,000 barrels (including specified aspects of long-term leasing of crude oil and storage facilities from both foreign and domestic entities). Sets October 15, 1989, as the deadline for an interim report, and February 1, 1990, as the deadline for the final report.

Imposes a moratorium upon Department of Energy sales of oil from the Naval Petroleum Reserve at Elk Hills (except to the Strategic Petroleum Reserve) until such final report has been submitted.