Federal Response to Energy Emergencies Act of 2005

Summary

Federal Response to Energy Emergencies Act of 2005 - Declares unlawful: (1) unconscionable pricing of gasoline, oil, natural gas, and petroleum distillates during emergencies; (2) intentional reporting of false price information concerning wholesale prices of such products; and (3) market manipulation regarding the purchase or sale at wholesale of such products. Authorizes the President to declare a federal energy emergency upon finding that the national health, safety, welfare, or economic well-being is at risk because of an actual or imminent shortage of such products due to a disruption of the national distribution system, or significant pricing anomalies in national or regional energy markets for the products. Empowers the Federal Trade Commission (FTC) and State Attorneys General to enforce this Act. Sets forth civil and criminal penalties for violations of this Act. Requires fines and penalties collected under this Act to be deposited in a separate fund in the treasury to be known as the Consumer Relief Trust Fund to provide assistance under the Low Income Home Energy Assistance Program. Directs the FTC to facilitate price transparency in wholesale markets for the sale of crude oil and essential petroleum products. Instructs the FTC to transmit a confidential report to Congress on the potential impact on domestic prices of crude oil, residual fuel oil, and refined petroleum products that would result from the disruption for periods of one week, one year, and five years, respectively. Directs the Secretary of Energy and the Energy Information Administration to review and report to Congress on expenditures and activities undertaken by certain size companies to protect the energy supply system from terrorist attacks, international supply disruptions, and natural disasters, and ensure a stable and reasonably priced supply of such products to consumers in the United States. Requires such report to assess the companies' preparations for the forecasted period of more frequent and more intense hurricane activity in the Gulf of Mexico and other vulnerable coastal areas.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 September 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 28 September 2005

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• Introduced in House

  summary · EN · 28 September 2005

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