H.R.4843 - A bill to amend the Energy Policy and Conservation Act for the purpose of improving national energy policy.99th Congress (1985-1986)
|Sponsor:||Rep. Sharp, Philip R. [D-IN-2] (Introduced 05/15/1986)|
|Committees:||House - Armed Services; Energy and Commerce|
|Committee Reports:||H.Rept 99-775 Part 1|
|Latest Action:||08/29/1986 Became Public Law No: 99-413. (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.4843 — 99th Congress (1985-1986)All Information (Except Text)
(Measure passed House, amended)
Passed House amended (08/13/1986)
Amends the Naval Petroleum Reserve Production Act to direct the Secretary of the Navy to establish a petroleum production rate from Naval Petroleum Reserves Numbered 1, 2, and 3 that is less than the maximum efficient rate if the Secretary determines that a specified minimum price cannot be attained for the Federal share of such petroleum.
Establishes a minimum price threshold that is the higher of either: (1) 90 percent of the current sales price of comparable petroleum in the same area; or (2) the price of Strategic Petroleum Reserve oil minus the cost of transporting such oil from the Naval Reserve to the Strategic Petroleum Reserve.
Reduces from 30 days to 15 days the period of Justice Department review of National Petroleum Reserve contracts for antitrust violations.
Repeals the provision that the private owner of interests in Naval Petroleum Reserve Number 1 must agree with the Federal production rate for such Reserve.