The Energy secretary would review the Strategic Petroleum Reserve, propose a long-term plan within 180 days, and report on reserve actions twice yearly.
Two laws that require drawdowns or sales from the Strategic Petroleum Reserve would no longer require those transactions under this proposal.
Within 180 days after enactment, the Energy secretary would review the reserve and send Congress a plan for its future role, size, fuel mix, storage, and distribution.
The Energy secretary would report to the president and Congress at least twice a year on reserve actions during the prior 180 days and effects on reserve facilities.
Two named federal laws would no longer require reserve drawdowns or sales. This applies only to requirements in the 2018 water infrastructure law and the 2021 infrastructure law.
The Energy secretary would complete a long-range review and send Congress a proposed action plan. The review covers the reserve’s near- and long-term roles, size, fuel mix, locations, storage, and distribution. The plan must assess whether current legal powers are adequate and estimate the resources needed for long-term operations. The review and plan would be due within 180 days after enactment.
The Energy secretary would send reserve reports to the president and Congress at least twice each year. The reports cover actions involving the reserve and effects on its wells, caverns, and related facilities. Each report would cover the preceding 180 days, and reports would be required at least twice each year.
No hearings or votes scheduled.