S.Amdt. 3280

SA 3280. Ms. CANTWELL submitted an amendment intended to be proposed
to amendment SA 3077 submitted by Mr. Roberts (for himself and Mr.
Boozman) and intended to be proposed to the 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:

In lieu of the matter proposed to be stricken, insert the
following:

SEC. 4501. STUDY ON ENERGY MARKET REGULATORY COORDINATION AND
INFORMATION COLLECTION.

(a) Study.--The Energy Information Administration, in
consultation with the Commodity Futures Trading Commission,
the Department of Energy, the Federal Trade Commission, and
the Federal Energy Regulatory Commission, shall conduct a
study--
(1) to identify the factors that affect the pricing of
crude oil, refined petroleum products, natural gas, and
electricity; and
(2) to review and assess--
(A) existing statutory authorities and regulatory
coordination relating to the oversight and regulation of
markets critical to the energy security of the United States;
and
(B) the need for additional information collection for and
statutory authority within the Federal Government to
effectively oversee and regulate physical markets critical to
the energy security of the United States.
(b) Elements of Study.--The study shall include--
(1) an examination of price formation of crude oil, refined
petroleum products, natural gas, and electricity in physical
markets;
(2) an examination of relevant international regulatory
regimes;
(3) an examination of changes in energy market
transparency, liquidity, and structure and the impact of
those changes on price formation in physical markets;
(4) an examination of the effect of increased financial
investment in energy commodities on energy prices and the
energy security of the United States; and
(5) an examination of the owners of the 50 largest volumes
of oil and natural gas, as well as storage and transportation
capacity for each.
(c) Report and Recommendations.--The Energy Information
Administration shall issue a final report not later than 1
year after the date of enactment of this Act that--
(1) describes the results of the study; and
(2) provides options for appropriate additional Federal
regulatory coordination of oversight and regulatory actions
to ensure transparency of energy product pricing and the
elimination of excessive speculation, including
recommendations on data collection and analysis to be carried
out by the Energy Information Administration.
(d) Consultation.--In conducting the study, the Energy
Information Administration shall consult, as appropriate,
with representatives of the various exchanges,
clearinghouses, self-regulatory bodies, other major market
participants, consumers, and the general public.
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