Bill summaries are authored by CRS.

Shown Here:
Senate agreed to House amendment with amendment (02/12/1998)

Amends the Energy Policy and Conservation Act (EPCA) to extend through: (1) FY 1999 the authorization of appropriations for the Strategic Petroleum Reserve; and (2) September 1, 1999, all authorities for domestic supply availability and for standby energy.

Changes from mandatory to discretionary the authority of the Attorney General to promulgate rules concerning records related to the development and carrying out of voluntary agreements and plans of action for international response to energy emergencies.

Repeals the exemption for such agreements from application of certain provisions of the Defense Production Act of 1950 (but retains their exemption from provisions regarding voluntary agreements for preparedness programs and expansion of production capacity and supply).

Extends EPCA coverage to 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: (1) the coordinated drawdown of stocks of petroleum products held or controlled by governments; and (2) complementary actions taken by governments during an existing or impending international oil supply disruption.

Declares that the antitrust defense under this Act shall not extend to an international allocation of petroleum products unless such allocation is required by chapters III and IV of the international energy program (Agreement on an International Energy Program) during an international energy supply emergency.

Limits to specified EPCA prescriptions and purposes the drawdown and distribution of petroleum products from the Strategic Petroleum Reserve (SPR).

Requires the annual budget submitted by the Secretary of Energy to include a funding request for petroleum storage in the SPR (or to provide a written explanation why such a request is not forthcoming).