S.3170 - A bill to amend the Energy Policy and Conservation Act to modify the conditions for the release of products from the Northeast Home Heating Oil Reserve Account, and for other purposes.110th Congress (2007-2008)
|Sponsor:||Sen. Snowe, Olympia J. [R-ME] (Introduced 06/19/2008)|
|Committees:||Senate - Energy and Natural Resources|
|Latest Action:||Senate - 06/19/2008 Read twice and referred to the Committee on Energy and Natural Resources. (All Actions)|
This bill has the status Introduced
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Summary: S.3170 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in Senate (06/19/2008)
Amends the Energy Policy and Conservation Act to revise requirements for the sale by the Secretary of Energy of products from the Northeast Home Heating Oil Reserve.
Authorizes the Secretary to sell from the Reserve if the President finds that: (1) there is a severe energy supply interruption (as under existing law); or (2) the price of home heating oil threatens the health and safety of residents of the Northeast.
Requires the Secretary to sell specified percentages of the quantity of products in the Reserve as of November 1 of a fiscal year if the President finds that, on successive monthly winter dates of the same fiscal year, the average retail price of No.2 heating oil in the Northeast is equal to or more than $4.00 per gallon.
Requires the Secretary to use any revenue derived from such sales to provide assistance to low-income consumers of heating oil under the Weatherization Assistance Program for Low-Income Persons of the Energy Conservation and Production Act.