S.Amdt. 3144

SA 3144. Ms. CANTWELL submitted an amendment intended to be proposed
to amendment SA 2953 proposed by Ms. Murkowski to the bill S. 2012, to
provide for the modernization of the energy policy of the United
States, and for other purposes; which was ordered to lie on the table;
as follows:

On page 168, between lines 20 and 21, insert the following:
(d) Drawdown and Sale of Refined Petroleum Products.--
(1) Definition of severe energy supply interruption.--
Section 3(8) of the Energy Policy and Conservation Act (42
U.S.C. 6202(8)) is amended by striking ``or (iii)'' and
inserting ``(iii) an interruption of the world-wide supply of
crude petroleum that is likely to cause a severe increase in
the price of domestic petroleum products, or (iv)''.
(2) Drawdown and sale of petroleum products.--Section 161
of the Energy Policy and Conservation Act (42 U.S.C. 6241) is
amended by adding at the end the following:
``(k) Drawdown and Sale of Refined Petroleum Products.--
``(1) In general.--The Secretary may draw down and sell
refined petroleum products in accordance with this subsection
if the President finds that--
``(A) a circumstance exists that constitutes, or is likely
to become, a regional severe energy supply interruption of
significant scope or duration; and
``(B) action taken under this subsection would assist
directly and significantly in preventing or reducing the
adverse impact of the shortage.
``(2) Refined petroleum products.--Refined petroleum
products covered by this subsection include all petroleum
products other than crude oil held by the Secretary as part
of--
``(A) the Strategic Petroleum Reserve established by
section 154; or
``(B) the Northeast Home Heating Oil Reserve established
under section 181.
``(3) Sales.--Sales of refined petroleum products under
this subsection--
``(A) shall be made at public sale to the highest qualified
bidder; but
``(B) do not need not comply with the requirements of
subsection (e)(1) or section 183.''.
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