S.Amdt. 4659

SA 4659. Mr. BARRASSO submitted, under authority of the order of the
Senate of May 2, 2008, an amendment intended to be proposed to
amendment SA 4627 proposed by Mr. Rockefeller to the bill H.R. 2881, to
amend title 49, United States Code, to authorize appropriations for the
Federal Aviation Administration for fiscal years 2008 through 2011, to
improve aviation safety and capacity, to provide stable funding for the
national aviation system, and for other purposes; which was ordered to
lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. GOVERNMENT OIL ACQUISITION FINANCIAL ACCOUNTABILITY
AND CONSUMER RELIEF.

(a) Suspension of Petroleum Acquisition for Strategic
Petroleum Reserve.--
(1) In general.--Notwithstanding any other provision of
law, during any period in which the conditions described in
paragraph (2) are not met--
(A) the Secretary of the Interior shall suspend acquisition
of petroleum for the Strategic Petroleum Reserve through the
royalty-in-kind program; and
(B) the Secretary of Energy shall suspend acquisition of
petroleum for the Strategic Petroleum Reserve through any
other acquisition method.
(2) Resumption.--
(A) In general.--The Secretary of the Interior may resume
acquisition of petroleum for the Strategic Petroleum Reserve
through the royalty-in-kind program, and the Secretary of
Energy may resume acquisition of petroleum for the Strategic
Petroleum Reserve through any other acquisition method, not
earlier than 30 days after the date on which the President
notifies Congress that the President has determined that, for
the most recent consecutive 4-week period--
(i) the weighted average price of retail, regular, all
formulations gasoline in the United States is $2.50 or less
per gallon (as adjusted under subparagraph (B)); or
(ii) the weighted average price of retail, No. 2 diesel in
the United States is $2.75 or less per gallon (as adjusted
under subparagraph (B)).
(B) Adjustment.--For fiscal year 2009 and each subsequent
fiscal year, the prices specified in clauses (i) and (ii) of
subparagraph (A) for the preceding fiscal year shall be
adjusted to reflect changes for the 12-month period ending
the preceding November 30 in the Consumer Price Index for All
Urban Consumers published by the Bureau of Labor Statistics
of the Department of Labor.
(b) Additional Acquisition Requirements.--Section 160 of
the Energy Policy and Conservation Act (42 U.S.C. 6240) is
amended by inserting after subsection (c) the following:
``(d) Additional Acquisition Requirements.--
``(1) In general.--To the maximum extent practicable, any
acquisitions made by the Secretary of the Interior for the
Strategic Petroleum Reserve through the royalty-in-kind
program and any acquisitions made by the Secretary of Energy
for the Reserve through any other acquisition method
(referred to in this subsection as the `respective
Secretary') shall reflect a steady monthly dollar value of
oil acquired through the royalty-in-kind program or any other
acquisition method allowed by law.
``(2) Particular inclusion.--
``(A) Definition of heavy crude oil.--In this paragraph,
the term `heavy crude oil' means oil with a gravity index of
not more than 22 degrees.
``(B) Requirement.--To the extent technologically feasible,
financially beneficial for the Treasury of the United States,
and compatible with domestic refining requirements, the
respective Secretary shall include at least 10 percent heavy
crude oil in making any acquisitions of crude oil for the
Reserve.
``(3) Negotiation of delivery dates.--Nothing in this
subsection limits the ability of the respective Secretary to
negotiate delivery dates for crude oil acquired for the
Reserve.
``(4) National security needs.--The respective Secretary
may waive any requirement under this subsection if the
respective Secretary determines that the requirement is
inconsistent with the national security needs of the United
States.''.
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