A bill to amend the Energy Policy and Conservation Act and the Energy Security Act to improve the administration of the Strategic Petroleum Reserve, to provide for transition in fiscal year 1982 to an alternative off-budget funding mechanism for financing the purchase of petroleum for the Strategic Petroleum Reserve, and for other purposes.
Strategic Petroleum Reserve Amendments Act of 1981 - Amends the Energy Policy and Conservation Act to increase the average annual fill rate for crude oil in the Strategic Petroleum Reserve from 100,000 to 300,000 barrels per day, until at least 750,000,000 barrels are in storage.
Directs the Secretary of the Treasury to establish a special account in the Treasury, the Strategic Petroleum Reserve Account, into which shall be deposited: (1) such funds as the Secretary finds are necessary to implement authorities under this Act or the Energy Security Act; and (2) receipts from the sale of petroleum during any drawdown and distribution of the Reserve.
Authorizes the President to contract with any State to store petroleum products in the Reserve, without regard to any procurement law or regulation.
Directs the Secretary to report to Congress quarterly concerning the Strategic Petroleum Reserve.
Committee on Energy and Natural Resources. Ordered favorably reported S. 998 in lieu of this measure.
Introduced in Senate
Read second time and referred to Senate Committee on Energy and Natural Resources.
Referred to Subcommittee on Energy and Mineral Resources.
Committee on Energy and Natural Resources requested executive comment from Interior Department; Energy Department; Treasury Department; OMB.
Subcommittee on Energy and Mineral Resources. Hearings held.
Subcommittee on Energy and Mineral Resources. Hearings held.
Subcommittee on Energy and Mineral Resources. Hearings held.
Committee on Energy and Natural Resources. Committee consideration and Mark Up Session held.
Subcommittee on Energy and Mineral Resources. Hearings held.
Committee on Energy and Natural Resources. Committee consideration and Mark Up Session held.
Committee on Energy and Natural Resources. Ordered to be reported in lieu of S. 707 with an amendment in the nature of a substitute favorably.
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Committee on Energy and Natural Resources. Reported to Senate by Senator McClure under the authority of the order of May 13, 81 favorably with an amendment in the nature of a substitute and an amendment to the title. With written report No. 97-82.
Committee on Energy and Natural Resources. Reported to Senate by Senator McClure under the authority of the order of May 13, 81 favorably with an amendment in the nature of a substitute and an amendment to the title. With written report No. 97-82.
Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 107.
Indefinitely postponed by Senate by Voice Vote.