S. 3170Senate110th Congress (2007-2009)In Committee

A bill to amend the Energy Policy and Conservation Act to modify the conditions for the release of products from the Northeast Home Heating Oil Reserve Account, and for other purposes.

Introduced June 19, 2008

Legislative Activity

Stay on top of the latest movement without scrolling through every action

1 earlier action
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Energy and Natural Resources.

June 19, 2008

View full timeline
SenateIntro Referral

Introduced in Senate

June 19, 2008

SenateIntro Referral

Read twice and referred to the Committee on Energy and Natural Resources.

June 19, 2008

Floor Debate

4 members

What members said about S. 3170 on the floor

2 Republicans2 Democrats
John Cornyn
Sen. John CornynR-TX · Jun 19, 2008

Mr. President, ``the first important rule of fraud control is: What you see is not the problem. It is what we don't see that really does the damage, and the efficacy of control systems depends upon…

Christopher J. Dodd
Sen. Christopher J. DoddD-CT · Jun 19, 2008

Mr. President, I rise today to speak on a bill I am introducing with my colleague, Senator Snowe, to amend the Northeast Home Heating Oil Reserve program. I want to thank Senator Snowe for her…

Christopher J. Dodd
Sen. Christopher J. DoddD-CT · Jun 19, 2008

Mr. President, I rise today to speak on a bill I am introducing with my colleague, Senator Snowe, to amend the Northeast Home Heating Oil Reserve program. I want to thank Senator Snowe for her…

Richard Burr
Sen. Richard BurrR-NC · Jun 19, 2008

Mr. President, I rise today to introduce legislation that would end an arbitrary process through which our own Government takes away the Second Amendment rights of American veterans. As most of my…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Jun 19, 2008

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

Reading Mode
Latest
Introduced in SenateIssued June 19, 2008

II

110th CONGRESS

2d Session

S. 3170

IN THE SENATE OF THE UNITED STATES

June 19, 2008

Ms. Snowe (for herself, Mr. Dodd, and Mr. Kerry) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources

A BILL

To amend the Energy Policy and Conservation Act to modify the conditions for the release of products from the Northeast Home Heating Oil Reserve Account, and for other purposes.

1.

Release of products from Northeast Home Heating Oil Reserve Account

Section 183 of the Energy Policy and Conservation Act (42 U.S.C. 6250b) is amended by striking subsection (a) and inserting the following:

(a)

Findings

(1)

Optional releases

(A)

In general

Subject to paragraph (2), the Secretary may sell products from the Reserve only on a finding by the President that—

(i)

there is a severe energy supply interruption; or

(ii)

the price of home heating oil threatens the health and safety of residents of the Northeast.

(B)

Requirement

The President may make a finding under subparagraph (A) only if the President determines that—

(i)

a dislocation in the heating oil market has resulted from an interruption described in subparagraph (A)(i);

(ii)

the price of home heating oil has increased by such an extent that the Northeast is experiencing, or will experience, an emergency situation that threatens the safety and health of residents of the Northeast; or

(iii)
(I)

a circumstance (other than a circumstance described in clause (i) or (ii)) exists that constitutes a regional supply shortage of significant scope and duration; and

(II)

action taken under this section would assist directly and significantly in reducing the adverse impact of the shortage.

(2)

Mandatory releases

(A)

In general

For each fiscal year, the Secretary shall sell—

(i)

20 percent of the quantity of products in the Reserve as of November 1 of that fiscal year, on a finding by the President that the average retail price of No. 2 heating oil in the Northeast (as reported in the retail price data of the Energy Information Administration for the Northeast) is equal to or more than $4.00 per gallon on November 1 of that fiscal year;

(ii)

20 percent of the quantity of products in the Reserve as of November 1 of that fiscal year, on a finding by the President that the average retail price of No. 2 heating oil in the Northeast (as so reported) is equal to or more than $4.00 per gallon on December 1 of that fiscal year;

(iii)

20 percent of the quantity of products in the Reserve as of November 1 of that fiscal year, on a finding by the President that the average retail price of No. 2 heating oil in the Northeast (as so reported) is equal to or more than $4.00 per gallon on January 1 of that fiscal year;

(iv)

20 percent of the quantity of products in the Reserve as of November 1 of that fiscal year, on a finding by the President that the average retail price of No. 2 heating oil in the Northeast (as so reported) is equal to or more than $4.00 per gallon on February 1 of that fiscal year; and

(v)

20 percent of the quantity of products in the Reserve as of November 1 of that fiscal year, on a finding by the President that the average retail price of No. 2 heating oil in the Northeast (as so reported) is equal to or more than $4.00 per gallon on March 1 of that fiscal year.

(B)

Use of revenue

The Secretary shall use any revenue derived from the sale of products in the Reserve under subparagraph (A) to provide assistance to low-income consumers of heating oil under the Weatherization Assistance Program for Low-Income Persons established under part A of title IV of the Energy Conservation and Production Act (42 U.S.C. 6861 et seq.).

.