To require the President of the United States to use the Strategic Petroleum Reserve in the event of a domestic energy supply shortage, to amend the Energy Policy and Conservation Act and the Export Administration Act of 1979 to prohibit the exportation of refined petroleum products except under certain circumstances, and for other purposes.

Summary

Amends the Energy Policy and Conservation Act to direct the President to use the Strategic Petroleum Reserve in the event of a domestic energy supply shortage. Amends the Export Administration Act of 1979 to prohibit the export of a refined petroleum product except pursuant to an export license specifically authorizing it. Precludes the issuance of such license without the approval of the Secretary of Energy. Requires the Secretary to notify certain congressional committees of the export license application, the name of the exporter, the destination, and the amount and price of the proposed export. Directs the Attorney General to report to specified congressional committees the findings of a special investigation to determine the extent to which domestic or foreign petroleum product suppliers may be charging excessive prices or manipulating the market in violation of antitrust laws. Expresses the sense of the Congress that the President should seek equitable payments from Saudi Arabia for the deployment and maintenance of troops in that country.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

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• Introduced in House

  summary · EN · 24 October 1990

  Open at official source

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