Summary: H.R.7019 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.7019. Bill summaries are authored by CRS.

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Introduced in House (05/26/2020)

Strategic Petroleum Reserve Reform Act

This bill revises requirements for the Strategic Petroleum Reserve to address underutilized storage facilities.

Specifically, the bill authorizes the Department of Energy (DOE) to lease such storage facilities to private entities. Currently, DOE may only lease these storage facilities to foreign governments. DOE must ensure that leasing of facilities to foreign governments will not impair national security.

In addition, DOE must conduct a pilot program to lease storage capacity for up to 200 million barrels of petroleum products.