H.R.6578 - Consumer Energy Supply Act of 2008

To provide for the sale of light grade petroleum from the Strategic Petroleum Reserve and its replacement with heavy grade petroleum. view all titles (2)

All Bill Titles

  • Short: Consumer Energy Supply Act of 2008 as introduced.
  • Official: To provide for the sale of light grade petroleum from the Strategic Petroleum Reserve and its replacement with heavy grade petroleum. as introduced.

Bill’s Views

  • Today: 1
  • Past Seven Days: 2
  • All-Time: 1,743
 
Introduced
 

House
Defeats
 
Senate
Passes
 
President
Signs
 

 
07/23/08
 
07/24/08
 
 
 
 
 

 

Latest Vote

Result: Failed - July 24, 2008

Roll call number 527 in the House

Question: On Motion to Suspend the Rules and Pass, as Amended: H R 6578 Consumer Energy Supply Act of 2008

 

Official Summary

Consumer Energy Supply Act of 2008 - Instructs the Secretary of Energy to publish a plan to: (1) sell prescribed amounts of light grade petroleum from the Strategic Petroleum Reserve (SPR) and acquire an equivalent volume of heavy grade petroleum; (2) deposit cash proceeds from those sales

Official Summary

Consumer Energy Supply Act of 2008 - Instructs the Secretary of Energy to publish a plan to:
(1) sell prescribed amounts of light grade petroleum from the Strategic Petroleum Reserve (SPR) and acquire an equivalent volume of heavy grade petroleum;
(2) deposit cash proceeds from those sales into the SPR Petroleum Account; and
(3) withdraw from such proceeds the administrative and operational costs of the sale and acquisition. Requires an offer for sale of 70 million barrels of light grade petroleum from the SPR. Requires the sale to:
(1) commence within 30 days after enactment of this Act, regardless of whether the Secretary's plan has been published; and
(2) be completed within six months after enactment, with at least 20 million barrels offered for sale within the first 60 days after enactment. Sets forth an acquisitions schedule for heavy grade petroleum to replace the light grade petroleum sold under this Act. Encourages the Secretary to grant requests to defer scheduled deliveries of petroleum to the SPR if deferral will result in a premium paid in additional barrels of oil which will reduce the cost of oil acquisition and increase the volume of oil delivered to the SPR or yield additional cash bonuses.

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