WASHINGTON, DC - The Subcommittee on Energy, chaired by Rep. Fred Upton (R-MI), today advanced legislation to modernize the nation’s Strategic Petroleum Reserve (SPR).
H.R. 6511, the Strategic Petroleum Reserve Reform Act, authored by Rep. Joe Barton (R-TX) and Rep. Bobby Rush (D-IL), passed #SubEnergy by voice vote.
* H.R. 6511 seeks to preserve and upgrade the nation’s SPR infrastructure by requiring the Secretary of Energy to carry out a pilot program to lease underutilized SPR capacity that will become available under current, mandated drawdowns.
* The bill was the subject of a July 2018 legislative hearing.
#SubEnergy Chairman Upton said, “Using excess storage capacity through a leasing program is an innovative idea - and it should be a win-win for the federal government. At a minimum, DOE may be able to offset some of its maintenance costs and invest in new infrastructure that will ensure the long-term operations of the SPR."
Electronic copies of the legislation, amendment text, and vote tallies can be found on the committee’s website HERE.
