H.R.1807 - Enhanced Supply and Price Reduction Act of 2011

To provide for the sale of oil from the Strategic Petroleum Reserve and acquisition of refined petroleum product, and for other purposes. view all titles (3)

All Bill Titles

  • Official: To provide for the sale of oil from the Strategic Petroleum Reserve and acquisition of refined petroleum product, and for other purposes. as introduced.
  • Short: Enhanced Supply and Price Reduction Act of 2011 as introduced.
  • Short: Enhanced SPR Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
05/10/11
 
 
 
 
 
 
 

Official Summary

Enhanced Supply and Price Reduction Act of 2011 or Enhanced SPR Act - Amends the Energy Policy and Conservation Act to require the Strategic Petroleum Reserve (SPR) to include refined petroleum products within its required capacity of 1 billion barrels of petroleum products. Authorizes the

Official Summary

Enhanced Supply and Price Reduction Act of 2011 or Enhanced SPR Act - Amends the Energy Policy and Conservation Act to require the Strategic Petroleum Reserve (SPR) to include refined petroleum products within its required capacity of 1 billion barrels of petroleum products. Authorizes the Secretary of Energy (DOE) to sell at least 30 million barrels of petroleum from the SPR and acquire refined petroleum product. Prescribes a schedule for such transactions. Directs the Secretary to deposit the cash proceeds from such sales into the SPR Petroleum Account. Authorizes the President to instruct the Secretary to drawdown and sell or exchange petroleum product from the SPR if a circumstance exists of such significance and scope that action would be warranted to address market manipulation or otherwise be in the public interest.

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