A bill to disapprove of certain deferrals of Strategic Petroleum Reserve budget authority, to authorize additional appropriations with respect to the Strategic Petroleum Reserve, and to increase oil import fees.

Summary

Expresses congressional disapproval of specified deferrals submitted by the President to the Congress relating to: (1) the Strategic Petroleum Reserve (D86-37); and (2) Strategic Petroleum Reserve petroleum account (D86-10-A). Declares that the disapproved deferral amounts shall be made available for obligation. Authorizes appropriations for: (1) FY 1987 through 1989 for crude oil acquisition for storage in the Strategic Petroleum Reserve; and (2) FY 1987 for storage facility construction for the Strategic Petroleum Reserve. Authorizes the Secretary of Energy to conduct a survey of possible storage sites to increase the capacity of the Strategic Petroleum Reserve to 1,000,000,000 barrels. Directs the Secretary to purchase any crude oil necessary to fill the Strategic Petroleum Reserve from certain domestic small volume "stripper" wells. Amends the Tariff Schedules of the United States to increase oil import fees. Requires the Secretary to cease production from the Elk Hills Naval Petroleum Reserve for a six-month period in order to provide for a review by the Congress and the President concerning production and pricing practices.

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1 official file

• Introduced in Senate

  summary · EN · 28 April 1986

  Open at official source

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