To promote the national security and stability of the United States economy by reducing the dependence of the United States on foreign oil, and for other purposes.

Summary: Oil Savings Act of 2009 - Requires a Commissioner of the Federal Trade Commission (FTC), appointed by the FTC Chairperson, to establish, and serve as Director of, an interagency working group, which shall publish in the Federal Register an action plan for achieving oil savings.

Authorizes the working group to publish a revised action plan if intermediate oil savings targets set by the action plan are not met.

Requires the working group to determine the baseline level of U.S. consumption of barrels of oil per day on average.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Oil Savings Act of 2009''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) the United States imports more oil from the Middle East 
        today than before the attacks on the United States on September 
        11, 2001;
            (2) the United States remains the most oil-dependent 
        industrialized nation in the world, consuming approximately 25 
        percent of the world's oil despite having only 2-3 percent of 
        the world's oil reserves;
            (3) the ongoing dependence of the United States on foreign 
        oil is one of the greatest threats to the national security and 
        economy of the United States; and
            (4) the United States needs to take transformative steps to 
        wean itself from its addiction to oil.

SEC. 3. ESTABLISHING AN INTERAGENCY WORKING GROUP.

    Not later than 30 days after the date of the enactment of this Act, 
a Commissioner of the Federal Trade Commission, appointed by the 
Chairperson of the Federal Trade Commission, shall establish, and serve 
as the Director of, an interagency working group (in this Act referred 
to as the ``Working Group'') consisting of the Secretary of Energy, the 
Chairman of the Federal Energy Regulatory Commission, and department 
heads from other appropriate Federal entities determined by the 
Director.

SEC. 4. ACTION PLAN.

    (a) In General.--Not later than 270 days after the date of the 
enactment of this Act, the Working Group shall publish in the Federal 
Register an action plan.
    (b) Requirements.--The action plan shall include--
            (1) intermediate oil savings targets for each calendar year 
        beginning on the calendar year after the date of the enactment 
        of this Act;
            (2) a list of requirements, including the oil savings to be 
        achieved by each requirement, that will be sufficient, when 
        taken together, to save from the baseline determined under 
        section 7--
                    (A) 2,500,000 barrels of oil per day on average 
                during calendar year 2015;
                    (B) 7,000,000 barrels of oil per day on average 
                during calendar year 2025; and
                    (C) 10,000,000 barrels of oil per day on average 
                during calendar year 2030;
            (3) a supply disruption strategy for Federal departments 
        and agencies to develop contingency plans in the event of a 
        supply disruption resulting in a precipitous and short-term 
        annualized decline of 4 percent of world oil production from 
        the prior year's baseline, and to provide timely advice to 
        Congress about cost-effective measures to mitigate the 
        potential negative consequences of such a supply disruption; 
        and
            (4) a peak oil strategy for Federal departments and 
        agencies to develop contingency plans in the event of a peak 
        and subsequent annualized decline of 4 percent of world oil 
        production from the prior year's baseline, and to provide 
        timely advice to Congress about cost-effective measures to 
        mitigate the potential negative consequences of such a peak.
    (c) Proposed Regulations.--Not later than 270 days after the date 
of the enactment of this Act, each Federal entity with jurisdiction to 
take action under any requirement of the action plan shall propose, or 
issue a notice of intent to propose, regulations meeting such 
requirement.
    (d) Notice of Intent To Propose Regulations.--If a Federal entity 
issues a notice of intent to propose regulations under this section, 
the entity shall propose such regulations not later than 330 days after 
the date of the enactment of this Act.
    (e) Final Regulations.--Not later than 18 months after the date of 
the enactment of this Act, each Federal entity with jurisdiction to 
take action under any requirement of the action plan shall promulgate 
final versions of the regulations required under this section.
    (f) Accompanying Analysis.--Each proposed and final regulation 
promulgated under this section shall be accompanied by an analysis from 
the applicable Federal entity demonstrating that the regulation will 
achieve the oil savings required by the action plan.

SEC. 5. REPORT REQUIREMENT.

    Not later than January 1, 2012, and every 3 years thereafter, the 
Working Group shall transmit to the Committee on Energy and Commerce of 
the House of Representatives and the Committee on Energy and Natural 
Resources of the Senate a report that evaluates the progress achieved 
in implementing the oil savings requirements established under section 
4.

SEC. 6. REVISED ACTION PLAN.

    (a) In General.--If intermediate oil savings targets set by the 
action plan are not met, not later than 60 days after submission of a 
report required under section 5, the Working Group may publish a 
revised action plan that is sufficient to achieve the requirements 
established under section 4.
    (b) Proposed Regulations.--Not later than 60 days after submission 
of the report required under section 5, each Federal entity with 
jurisdiction to take action under any requirement of the revised action 
plan shall propose, or issue a notice of intent to propose, regulations 
meeting such requirement.
    (c) Notice of Intent To Propose Regulations.--If a Federal entity 
issues a notice of intent to propose regulations under this section, 
the entity shall propose such regulations not later than 120 days after 
submission of the report required under section 5.
    (d) Final Regulations.--Not later than 6 months after publication 
of the report required under section 5, each Federal entity with 
jurisdiction to take action under any requirement of the revised action 
plan shall promulgate final versions of the regulations required under 
this section.
    (e) Accompanying Analysis.--Each proposed and final regulation 
promulgated under this section shall be accompanied by an analysis from 
the applicable Federal entity demonstrating that the regulation will 
achieve the oil savings required by the revised action plan.

SEC. 7. DETERMINATION OF A BASELINE.

    (a) In General.--Not later than 120 days after the date of the 
enactment of this Act, the Working Group established under section 3 
shall determine the baseline level of United States consumption of 
barrels of oil per day on average.
    (b) Energy Information Administration.--In determining the baseline 
level of United States oil consumption, the Working Group shall utilize 
the expertise and resources of the Energy Information Administration, 
particularly in validating statistical data that may be relevant, and 
shall consider the Energy Information Administration's Annual Energy 
Outlook 2008 and Annual Energy Outlook 2009 Early Release.
    (c) Information From Federal Entities.--Each executive department, 
bureau, commission, agency, board, office, independent establishment, 
or instrumentality of the Federal Government shall make available to 
the Working Group upon request any data, information, estimates, 
statistics, and access to any employee necessary for the determination 
of the baseline under this section.