H.R.1017 - Enhanced SPR Act112th Congress (2011-2012)
|Sponsor:||Rep. Markey, Edward J. [D-MA-7] (Introduced 03/10/2011)|
|Committees:||House - Energy and Commerce|
|Latest Action:||03/15/2011 Referred to the Subcommittee on Energy and Power.|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.1017 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (03/10/2011)
Enhanced Supply and Price Reduction Act of 2011 or Enhanced SPR Act - Amends the Energy Policy and Conservation Act to require the Strategic Petroleum Reserve (SPR) to contain at least 30 million barrels of refined petroleum products.
Directs the Secretary of Energy (DOE) to: (1) sell at least 30 million barrels of light grade petroleum from the SPR and acquire refined petroleum product; (2) deposit the cash proceeds from such sales into the SPR Petroleum Account; and (3) from such deposited proceeds withdraw the amount necessary to pay for the direct administrative and operational costs of the sale and acquisition, including for acquisition and maintenance of, and improvements to, storage facilities.