Invest in Energy Security Act

To amend the Energy Policy Act of 2005 to require the Secretary of Energy to acquire petroleum in quantities sufficient to fill the available capacity of the Strategic Petroleum Reserve, subject to certain limitations, and for other purposes.

1/28/2008--Introduced.
Invest in Energy Security Act - Amends the Energy Policy Act of 2005 governing petroleum acquisition for the Strategic Petroleum Reserve (SPR) to direct the Secretary of Energy to:
(1) sell specified quantities of petroleum received under the royalty-in-kind program; and
(2) suspend petroleum acquisition for the SPR under such program. Authorizes the Secretary to resume such acquisition upon notifying Congress that specified circumstances exist, and to suspend acquisition again if certain other circumstances arise. Establishes the Energy Independence and Security Fund to receive all proceeds from sales of SPR petroleum. Allocates amounts from such Fund for:
(1) the Energy Transformation Acceleration Fund for university-based research projects and program direction expenses;
(2) Energy Efficiency and Renewable Energy account for rural wind energy systems;
(3) solar energy technologies;
(4) weatherization assistance for low-income housing;
(5) ocean and wave energy, including hydrokinetic renewable energy;
(6) technologies to improve the energy efficiency and reduce greenhouse gas emissions from industrial processes and from buildings;
(7) improvements to the energy efficiency of transportation and electric power;
(8) geothermal research and development managed by the National Renewable Energy Laboratory;
(9) advanced geothermal drilling and resource characterization managed by National Energy Technology Laboratory;
(10) carbon capture and storage;
(11) Ultra-Deepwater and Unconventional Natural Gas and Other Petroleum Research Fund;
(12) environmental research in support of small producers of domestic petroleum and natural gas, for regulatory analysis and for support for the stripper well consortium; and
(13) the H-Prize Program of the Department of Energy.


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Sponsor

• Rep. Nicholas Lampson [D, TX-22]
• and 1 Co-Sponsors
  • Rep. Thomas Edwards [D, TX-17]
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Committees

• House Energy and Commerce
• 1 more
  • House Science and Technology
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Amendments

This bill has no amendments.

Amendments to H.R.5146

Number	Status	Purpose

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
January 28, 2008

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All Bill Actions

• Jan 28, 2008: Referred to House Science and Technology
• Jan 28, 2008: Referred to House Energy and Commerce
• Jan 28, 2008: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Science and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• Introduced on Jan 28, 2008.

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Related Issue Areas:

• Wind power
• Welfare
• Transportation
• Tidal power
• 45 more
• Technology
• Technological innovations
• Strategic materials
• Solar energy
• Small business
• Science policy
• Residential rehabilitation
• Research and development
• Petroleum reserves
• Petroleum in submerged lands
• Petroleum
• Ocean energy resources
• Natural gas
• Marine resources
• Low-income housing
• Industrial pollution
• Hydrogen
• Housing
• Higher education
• Greenhouse gases
• Government trust funds
• Geothermal resources
• Gasoline
• Gas in submerged lands
• Fuel consumption
• Federal aid to research
• Federal aid to education
• Federal aid to air pollution control
• Environmental research
• Environmental protection
• Energy research
• Energy efficiency
• Energy conservation
• Education
• Congressional reporting requirements
• Congressional oversight
• Congress
• Commercialization
• Carbon dioxide
• Business
• Budgets
• Awards, medals, prizes
• Alternative energy sources
• Air pollution
• Energy

Data from the Congressional Research Service

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In the News

February 12, 2008 Energy R&D Bill Directs Oil Revenues

HR 5146, the Invest in Energy Security Act, suspends the Strategic Petroleum Reserve (SPR) royalty-in-kind (RIK) oil program and directs that oil to be sold ...

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Source: EP Magazine, TX

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January 31, 2008 Lampson files energy bill

Chet Edwards, D-Waco, to introduce HR 5146, the Invest in Energy Security Act. The US government collects royalties from oil producers who operate on ...

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Source: Rosenberg Herald Coaster, TX

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Blog Coverage

August 28, 2008 The Strategic Petroleum Reserve: History, Perspectives, and Issues

Bills to suspend RIK fill (H.R. 5146, S. 2598) were introduced early in the. second session of the 110. th. Congress. Introduction of these bills may have been. driven, in part, by dissatisfaction with the November 2006 Administration ...

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February 12, 2008 spr

Energy R&ampD Bill Directs Oil Revenues - EP Magazine. HR 5146, the Invest in Energy Security Act, suspends the Strategic Petroleum Reserve SPR royalty-in-kind RIK oil program and directs that oil to be sold … www.eponline.com ...

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January 31, 2008 HR5146 To amend the Energy Policy Act of 2005 to require the ...

To amend the Energy Policy Act of 2005 to require the Secretary of Energy to acquire petroleum in quantities sufficient to fill the available capacity of the Strategic Petroleum Reserve, subject to certain limitations, and for other ...

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