S.3816 - Strategic Petroleum Reserve Reform Act116th Congress (2019-2020)
|Sponsor:||Sen. Cassidy, Bill [R-LA] (Introduced 05/21/2020)|
|Committees:||Senate - Energy and Natural Resources|
|Latest Action:||Senate - 05/21/2020 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.3816 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (05/21/2020)
Strategic Petroleum Reserve Reform Act
This bill revises requirements for the Strategic Petroleum Reserve to address underused 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 program to lease storage capacity for up to 200 million barrels of petroleum products at storage facilities of the Strategic Petroleum Reserve and related facilities.