H.R. 1017 · 112th Congress
Enhanced SPR Act
- Stage
- In committee
- Sponsor
- Ed Markey
- Introduced
- 2011-03-10
- Latest action
- 2011-03-15 · Referred to the Subcommittee on Energy and Power.
Summary
Enhanced Supply and Price Reduction Act of 2011 or Enhanced SPR Act - Amends the Energy Policy and Conservation Act to require the Strategic Petroleum Reserve (SPR) to contain at least 30 million barrels of refined petroleum products.
Directs the Secretary of Energy (DOE) to: (1) sell at least 30 million barrels of light grade petroleum from the SPR and acquire refined petroleum product; (2) deposit the cash proceeds from such sales into the SPR Petroleum Account; and (3) from such deposited proceeds withdraw the amount necessary to pay for the direct administrative and operational costs of the sale and acquisition, including for acquisition and maintenance of, and improvements to, storage facilities.