S.967 - Strategic Petroleum Reserve Modernization Act of 2009111th Congress (2009-2010)
|Sponsor:||Sen. Bingaman, Jeff [D-NM] (Introduced 05/04/2009)|
|Committees:||Senate - Energy and Natural Resources|
|Latest Action:||Senate - 05/12/2009 Committee on Energy and Natural Resources. Hearings held. Hearings printed: S.Hrg. 111-67. (All Actions)|
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Summary: S.967 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in Senate (05/04/2009)
Strategic Petroleum Reserve Modernization Act of 2009 - Amends the Energy Policy and Conservation Act to require that the Strategic Petroleum Reserve (SPR) contain at least 30 million barrels of refined petroleum products.
Directs the Secretary of Energy to submit to the President and, if the President approves, to Congress, a plan for inclusion of such products in the SPR.
Prohibits drawdown and sale of SPR petroleum products unless the Secretary determines that: (1) the drawdown and sale are required by a severe energy market supply interruption or U.S. obligations under the international energy program; or (2) a sale of refined petroleum products will mitigate the impacts of weather-related or other natural events that have resulted in a severe energy market disruption.