National Strategic Petroleum Reserve (Civilian) Act

Summary

National Strategic Petroleum Reserve (Civilian) Act - Declares it to be the policy of the United States to create a National Strategic Petroleum Reserve capable of reducing the impact of disruptions of oils imports. Stipulates that such reserve shall consist of up to three hundred million barrels for the National Strategic Petroleum Reserve (Military) as provided by the Energy Independence Act of 1975, and of up to one billion barrels for the National Strategic Petroleum Reserve (Civilian) created by this Act. Authorizes the President to acquire land for the location of storage facilities; to acquire petroleum for storage; and to require that the performance of contracts implementing this Act be given priority over other contracts. Enables the President to create an Industrial Strategic Petroleum Reserve as part of the National Strategic Petroleum Reserve (Civilian) by requiring any person engaged in the importation or refining of petroleum to maintain reserves of petroleum. Outlines the procedures, including condemnation, under which property may be acquired pursuant to this Act. Grants the President the power to seek injunctive relief against any person believed to be violating any rules issued pursuant to this Act. Requires the President to submit to the Congress an annual report setting forth the actions taken under this Act. Authorizes the President to use the Special Fund established by the Energy Indpendence Act of 1975 to implement this Act. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 7 February 1975

  Open at official source

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