Summary: H.R.3608 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for H.R.3608. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (02/09/2000)

Home Heating Oil Price Stability Act - Instructs the Secretary of Energy to immediately create a fuel oil reserve containing two million barrels of heating oil in leased storage facilities in the New York Harbor area and 4.7 million barrels in one of the four Strategic Petroleum Reserve (SPR) caverns in the Gulf Coast. Permits the Secretary to fill such heating oil reserve by trading SPR crude oil for heating oil.

Authorizes the President to immediately draw down the Fuel Oil Product Reserve only when domestic fuel oil prices rise sharply because of anticompetitive activity, during a fuel oil shortage, or during periods of extreme winter weather.

Authorizes appropriations.