Gasoline Price Stabilization Act of 2005

Summary

Gasoline Price Stabilization Act of 2005 - Sets forth circumstances under which the President may issue orders and regulations to stabilize prices for wholesale and retail gasoline to levels at or below levels prevailing on March 1, 2004. Amends the Energy Policy and Conservation Act to include, among prerequisites to a drawdown and sale from the Strategic Petroleum Reserve, a presidential determination that a severe price increase resulting from an emergency situation is likely to cause a major adverse impact upon a state or regional economy. Expands the scope of "severe energy supply interruption" to encompass a reduction in supply that is substantially caused by conduct that lessens competition (or tends to create a monopoly) by: (1) at least one foreign country or international entity; or (2) at least one producer, refiner, or marketer of petroleum products. Directs the Secretary of Energy to establish mandatory minimum inventory levels of crude oil and petroleum products in order to limit the impact of unexpected supply disruptions on wholesale and retail prices. Amends the Mineral Leasing Act to repeal the authorization to export Alaskan North slope oil. Amends the Internal Revenue Code to: (1) impose an excise tax on the sale in the United States of any crude oil, gasoline, or other taxable product equal to the applicable percentage of the windfall profit on such sale; and (2) allow a tax credit for the cost of any qualified passenger vehicle purchased by the taxpayer during the taxable year. Amends the Clayton Act to: (1) prohibit certain oil industry mergers; and (2) place a moratorium upon large petroleum and crude oil mergers. Amends federal transportation law to increase the average fuel economy standards for passenger automobiles and light trucks. Requires federal agency heads to manage vehicle procurement in a manner that results in specified increases in the average fuel economy of the federal fleet of vehicles.

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Timeline

1. 28 July 2005

   Introduced

   Introduced in House

   Source: IntroReferral

2. 28 July 2005

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 July 2005

   Introduced

   Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

4. 28 July 2005

   Introduced

   Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

5. 5 August 2005

   Referred

   Referred to the Subcommittee on Energy and Air Quality.

   Source: Committee

6. 8 August 2005

   Referred

   Referred to the Subcommittee on Energy and Mineral Resources.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 July 2005 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 July 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 July 2005

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 28 July 2005

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

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Sponsors

• Rep. DeFazio, Peter A. [D-OR-4] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Cosponsor
• Rep. Slaughter, Louise McIntosh [D-NY-25] · D · Cosponsor
• Rep. Conyers, John, Jr. [D-MI-13] · D · Cosponsor
• Rep. Oberstar, James L. [D-MN-8] · D · Cosponsor
• · hsii00 · Standing
• · hsif00 · Standing
• · hsfa00 · Standing
• · hsju00 · Standing
• · hsgo00 · Standing
• · hswm00 · Standing

Related records

• related to → Gas Price Spike Act of 2005
• related to ← Gas Price Relief Act of 2005
• related to ← Consumer Reasonable Energy Price Protection Act of 2005
• related to ← Windfall Profits Rebate Act of 2005
• related to ← Consumer Windfall Excess Oil Profits Protection Act of 2005
• related to ← Windfall Profits and Consumer Assistance Act of 2005
• related to ← To amend the Internal Revenue Code of 1986 to impose a temporary windfall profit tax on crude oil and to use the proceeds to carry out the Low-Income Home Energy Assistance Act of 1981.
• related to ← Consumer Energy Assistance and Fairness Act of 2005
• related to ← Recapture Excess Profits and Invest in Relief (REPAIR) Act of 2005

Showing 9 of 12 related records.