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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Oil Price Safeguard Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To provide the Secretary of Energy with authority to draw down the Strategic Petroleum Reserve when oil and gas prices in the United States rise sharply because of anticompetitive activity, and to require the President, through the Secretary of Energy, to consult with Congress regarding the sale of oil from the Strategic Petroleum Reserve.

Actions Overview (1)

11/19/2004Introduced in House

All Actions (4)

12/01/2004Referred to the Subcommittee on Energy and Air Quality.
Action By: Committee on Energy and Commerce
11/19/2004Referred to the House Committee on Energy and Commerce.
Action By: House of Representatives
11/19/2004Sponsor introductory remarks on measure. (CR 11/20/2004 E2110-2111)
Action By: House of Representatives
11/19/2004Introduced in House
Action By: House of Representatives

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Energy and Commerce11/19/2004 Referred to
House Energy and Commerce Subcommittee on Energy and Air Quality12/01/2004 Referred to

No related bill information was received for H.R.5405.

Subjects (13)

Latest Summary (1)

There is one summary for H.R.5405. View summaries

Shown Here:
Introduced in House (11/19/2004)

Oil Price Safeguard Act - Amends the Energy Policy and Conservation Act to declare that a severe energy supply interruption, warranting a drawdown from the Strategic Petroleum Reserve (SPR), shall be deemed to exist if the President determines that: (1) there is a significant reduction in the supply of petroleum of significant scope and duration that has caused a significant increase in the price of petroleum products; (2) the price increase is likely to cause a significant adverse impact on the national economy; and (3) a substantial cause of the reduction in supply is the anticompetitive conduct of foreign countries or international entities.

Requires the President to report to certain congressional committees if the price of a barrel of crude oil exceeds $35 for a period greater than 14 days.