IV

106TH CONGRESS

2D SESSION H. CON. RES. 287

Expressing the sense of the Congress regarding the actions needed to address

the recent dramatic price increase in heating oil and other petroleum

distillates.

IN THE HOUSE OF REPRESENTATIVES

MARCH 16, 2000

Mr. SHERWOOD submitted the following concurrent resolution; which was referred to the Committee on Commerce, and in addition to the Committee

on International Relations, for a period to be subsequently determined by

the Speaker, in each case for consideration of such provisions as fall within the juriscition of the committee concerned

CONCURRENT RESOLUTION

Expressing the sense of the Congress regarding the actions

needed to address the recent dramatic price increase

in heating oil and other petroleum distillates.

Whereas the United States is increasingly dependent upon

the Organization of Petroleum Exporting Countries

(OPEC) for crude oil supplies;

Whereas this growing reliance on imports has now reached 56

percent of the annual demand for crude oil in the United

States, placing the Nation’s economic future in the control of foreign governments, including Iraq;

Whereas OPEC may extend the existing production cuts;
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•HCON 287 IH

Whereas according to the International Energy Agency, global oil supplies could be as much as 3 million barrels per

day below demand in the first quarter of 2000 and as

much as 1.5 million barrels per day below demand in the

second quarter;

Whereas the dependence of the United States on foreign supplies to meet domestic demand has resulted in recordhigh crude oil prices;

Whereas the current high prices for distillates such as heating oil, gasoline, and diesel fuel have had an alarming impact upon domestic commerce and industry, especially

farming, trucking, utility, and municipal services;

Whereas the infrastructure for fuels such as natural gas (as

an alternative to heating oil for residences and industry)

is insufficient to meet demand, especially in the northeastern United States; and

Whereas a coherent energy policy on the part of the United

States Government could ameliorate such consumer price

vulnerability: Now, therefore, be it

1 Resolved by the House of Representatives (the Senate

2 concurring), That the Congress calls on the President to

3 direct the Secretary of Energy to—

4 (1) take immediate action to negotiate with the

5 Organization of Petroleum Exporting Countries

6 (OPEC) and with non-OPEC nations to increase oil

7 production sufficient to mitigate the current supply

8 crisis such that world oil prices reach a sustainable

9 level for both producer and consumer nations; and
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1 (2) develop a plan and recommend to the Con2 gress by July 1, 2000, both short-term and long3 term solutions by which the United States can re4 duce its dependence on foreign oil supply,

5 including—

6 (A) an analysis of options for sales or ex7 changes of crude oil from the Strategic Petro8 leum Reserve established by the Energy Policy

9 and Conservation Act (42 U.S.C. 6201 et seq.);

10 (B) an analysis of options for increasing

11 efficiency in energy utilization;

12 (C) a plan for increasing natural gas sup13 ply to markets in the northeastern United

14 States; and

15 (D) an evaluation of how the United States

16 can increase domestic crude oil production to

17 alleviate risks to national security due to de18 pendence on foreign oil.

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