Energy Emergency Preparedness Act of 1982

(Conference report filed in House, H. rept. 97-663)

Energy Emergency Preparedness Act of 1982 - Amends the Energy Policy and Conservation Act to extend until midnight December 31, 1983: (1) the authority for oil companies to carry out voluntary agreements for implementing the allocation and information provisions of the international energy program; and (2) the antitrust exemption for oil companies participating in such program.

Prohibits rules relating to international oil allocations prescribed by the President pursuant to such Act from being put into effect, unless: (1) an international energy supply emergency is in effect; and (2) the allocation of available oil under the international energy program has been activated pursuant to chapter IV of such program.

Requires the President to submit to Congress by November 15, 1982, a memorandum of law describing the authorities available to the President under existing law to respond to a severe energy supply interruption. Requires the President to submit to Congress by December 31, 1982, comprehensive energy emergency response procedures which shall: (1) describe the options the President would consider using to implement such authorities; (2) describe the selection of appropriate governmental responses to international and domestic energy shortages; and (3) recommend any additional statutory authority which may be necessary.

Requires the President to increase the petroleum products in storage in the Strategic Petroleum Reserve at an average annual rate of at least the minimum required fill rate until at least 500,000,000 barrels are in storage. Provides that the minimum required fill rate shall be 300,000 barrels per day unless the President determines that such rate would not be in the national interest. Limits the period of time during which such a determination shall have effect. Provides for a minimum required fill rate of 220,000 barrels per day during such a period of time. Requires that the minimum required fill rate be the highest practicable fill rate achievable if funds are available after FY 1982 to achieve an average annual fill rate higher than 220,000 barrels per day.

Provides that after the Reserve reaches a level of 500,000,000 barrels, the President shall seek to increase the petroleum products in storage in the Reserve at an average annual rate of at least 300,000 barrels per day until at least 750,000,000 barrels are in storage. (Currently, the President is required only to seek to increase the petroleum products in storage at an average annual rate of at least 300,000 barrels per day until at least 750,000,000 barrels are in storage.)

Authorizes the Secretary of Energy to provide for the storage of petroleum products in interim storage facilities. Authorizes the use of, and not to exceed, ten percent of the funds obligated from the SPR Petroleum Account in any fiscal year to meet expenses associated with interim storage facilities for the Reserve. Provides that interim storage in existing Reserve facilities does not require an environmental impact statement.

Directs the President to transmit to Congress by December 1, 1982, a drawdown plan for the Reserve.

Directs the President to collect information on the pricing, supply, and distribution of petroleum products on a State-by-State basis.

Requires the Secretary of Energy to analyze, and report to Congress on, the impact on the domestic economy and on consumers of reliance on market allocation and pricing during any substantial reduction in the amount of petroleum products available to the United States. Requires projections of the effect of petroleum supply reduction on the price of gasoline, home heating oil, and diesel fuel and on Federal, State, and local tax revenues and Federal royalty receipts.

Directs the President to report to Congress on: (1) the foreseeable situations which could result in a severe energy supply interruption or obligations of the United States arising under the international energy program necessitating distributions from the Strategic Petroleum Reserve; and (2) the strategies of distribution which could be used to respond to such situations.

Requires the President to submit to Congress by December 31, 1982, a report on the actions taken to establish Regional Petroleum Reserves pursuant to the Energy Policy and Conservation Act.

Directs the Secretary of Energy to prepare and transmit to Congress by December 31, 1982, a study of the potential for establishing a Strategic Alcohol Fuel Reserve.