A bill to amend the Energy Policy and Conservation Act.

Summary

Amends the Energy Policy and Conservation Act to direct the Secretary of Energy to implement during FY 1988 a program for filling the Strategic Petroleum Reserve (SPR) at a minimum average rate of 100,000 barrels per day until the quantity of crude oil in storage is at least 750,000,000 barrels. Mandates that the Secretary require each importer to provide for storage in the Reserve an amount of petroleum product equal to a percentage which, if applied uniformly to all importers, produces the fill rate for the requisite amount of barrels. Requires the Secretary to assess and collect charges (beginning in FY 1988) from each person who has petroleum product stored in the Reserve according to the program established by this Act. Sets forth guidelines for the assessment of such charges. Earmarks such charges for the construction, maintenance, and administration of the SPR storage facilities. Increases from 75,000 to 100,000 barrels per day the average daily rate of crude oil in storage in the Naval Petroleum Reserve per fiscal year. Terminates the authorities regarding the Petroleum Reserve on September 30, 1995.

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1 official file

• Introduced in House

  summary · EN · 24 June 1987

  Open at official source

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