Oil Price Safeguard Act

Summary

Oil Price Safeguard Act - Amends the Energy Policy and Conservation Act to expand the circumstances under which a severe energy supply interruption shall be deemed to exist (thus permitting a drawdown of the Strategic Petroleum Reserve (SPR). Provides for the deeming of such an interruption when oil and gas prices in the United States increase to a level likely to cause a significant adverse impact on the national economy as a result of the anticompetitive conduct of one or more foreign countries or international entities. Directs the President to present a status report to certain congressional committees if the price of a barrel of crude oil exceeds a specified price for a period greater than 14 days, including: (1) the impact upon the price of home heating oil; and (2) whether the President supports a drawdown and distribution from the SPR.

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Timeline

1. 17 November 1999

   Introduced

   Read twice and referred to the Committee on Energy and Natural Resources.

   Source: IntroReferral

2. 17 November 1999

   Introduced

   Sponsor introductory remarks on measure. (CR S14734-14735)

   Source: IntroReferral

3. 17 November 1999

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 9 March 2000

   Introduced

   Sponsor introductory remarks on measure. (CR S1370-1371)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 17 November 1999 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 November 1999

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 November 1999

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 17 November 1999

  Open at official source

Sponsors

• Charles Schumer · D · Sponsor
• Susan Collins · R · Sponsor
• Rep. Dodd, Christopher J. [D-CT-2] · D · Cosponsor
• Sen. Lieberman, Joseph I. [D-CT] · D · Cosponsor
• Rep. Jeffords, James M. [R-VT-At Large] · R · Cosponsor
• John Reed · D · Cosponsor
• · sseg00 · Standing

Related records

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