Gasoline Availability Stabilization Reserve Act

Summary

Gasoline Availability Stabilization Reserve Act - Directs the Secretary of Energy to: (1) establish a Gasoline Availability Stabilization Reserve (GAS Reserve) system with a total capacity of 20 million barrels of regular unleaded gasoline; (2) determine a site for one GAS Reserve each in the Northeast and Midwest regions of the United States, and one in California; and (3) transmit to Congress, the Secretary of Homeland Security, and the Governor of each state in which a reserve will be sited a transportation plan for the transportation of the contents of the GAS Reserve to consumers in the event of an emergency sale. Requires the Secretary to sell gasoline from the GAS Reserve upon written notification by a state Governor that cites a physical disruption in the system supplying gasoline to the Governor's state likely to result in price volatility for retail gasoline markets in that state. Prescribes guidelines under which the Secretary is authorized to conduct purchases and sales of gasoline at wholesale for maintenance of the GAS Reserve system.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 15 September 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 15 September 2005

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• Introduced in House

  summary · EN · 15 September 2005

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