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To authorize the Secretary of Energy to exchange light crude oil in the Strategic Petroleum Reserve for heavy crude oil, and for other purposes.

5/13/2008--Introduced.

Instructs the Secretary of Energy to: (1) publish an announcement in the Federal Register, within 14 days after the end of any period of ten consecutive days during which the price of oil exceeds $90 per barrel, offering 50 million barrels of light crude oil from the Strategic Petroleum Reserve (SPR) in exchange for heavy crude oil; and (2) establish a schedule distributing exchanges over a period of two years.

Sunsets the authority to enter into such exchange agreement one year after the date of enactment of this Act.

Latest Actions
  • 05/14/2008 - Referred to the Subcommittee on Energy and Air Quality.
  • 05/13/2008 - Referred to the House Committee on Energy and Commerce.
Bill Text
File name Last Updated
H.R.6035 Introduced in House05/15/2008