H.R.3608 - Home Heating Oil Price Stability Act106th Congress (1999-2000)
|Sponsor:||Rep. Sanders, Bernard [I-VT-At Large] (Introduced 02/09/2000)|
|Committees:||House - Commerce|
|Latest Action:||02/24/2000 Referred to the Subcommittee on Energy and Power.|
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Summary: H.R.3608 — 106th Congress (1999-2000)All Bill Information (Except Text)
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.
Introduced in House (02/09/2000)
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.