Buy Low and Sell High Act

To lower consumer fuel prices, and for other purposes. 1. Short title; table of contents (a) Short title This Act may be cited as the Buy Low and Sell High Act (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Title I—Petroleum Reserves Sec. 101. Economic Petroleum Reserve. Sec. 102. Establishing Strategic Refined Petroleum Product Reserves. Sec. 103. Northeast Home Heating Oil Reserve. Sec. 104. SPR Petroleum Account. Sec. 105. Prohibition on certain exports. Sec. 106. Strategic Petroleum Reserve reforms. Sec. 107. Strategic Petroleum Reserve drawdown and sale. Sec. 108. DOE study and plan for delivery of fuel during pipeline disruptions. Title II—Fuel Demand Sec. 201. State energy transportation plans. Sec. 202. Transportation electrification. Sec. 203. Federal fleets. Title III—Fuel Supply Sec. 301. Assistance for Western Hemisphere refineries. I Petroleum Reserves 101. Economic Petroleum Reserve (a) Establishment Section 154 of the Energy Policy and Conservation Act ( 42 U.S.C. 6234 (g) Economic Petroleum Reserve (1) Establishment In carrying out subsection (b), the Secretary shall establish and maintain within the Strategic Petroleum Reserve an Economic Petroleum Reserve of up to 350,000,000 barrels of crude oil. (2) Source The Economic Petroleum Reserve shall consist of— (A) 90,000,000 barrels of crude oil that are stored in the Strategic Petroleum Reserve on the date of enactment of this subsection, less any amounts drawn down and sold under section 161(k) after such date; and (B) any crude oil purchased under section 160(i). . (b) Purchases Section 160 of the Energy Policy and Conservation Act ( 42 U.S.C. 6240 (i) Purchase of crude oil for Economic Petroleum Reserve (1) In general For purposes of section 154(g), the Secretary may acquire crude oil under this section only by purchase from domestic producers for a contract price of not more than $60 per barrel, in accordance with this subsection. (2) Immediate delivery The Secretary may enter into a contract under paragraph (1) at any time for immediate delivery of crude oil. (3) Future delivery (A) Authorized period During the period that begins on the date of enactment of this subsection and ends on December 31, 2024, the Secretary may enter into a contract under paragraph (1) for delivery of crude oil to occur during the period that begins on January 1, 2025, and ends on December 31, 2027. (B) Priority In carrying out subparagraph (A), to the extent there are multiple offers for contracts on equivalent terms, the Secretary shall give priority to contracts for crude oil produced by wells, including drilled but uncompleted wells, that are minimizing greenhouse gas emissions from activities at such wells, as determined by the Secretary in consultation with the Administrator of the Environmental Protection Agency. (4) Funding The Secretary may enter into a contract under paragraph (1) using amounts deposited in the SPR Petroleum Account under section 167(c)— (A) that are attributable to covered receipts described in section 167(e)(3)(A); or (B) that were appropriated for such purpose pursuant to section 166. (5) Applicability of certain considerations The objectives described in subsections (b)(4), (c)(2), and (c)(5) shall not apply to the acquisition of crude oil pursuant to a contract under paragraph (1). . (c) Drawdown and sale Section 161 of the Energy Policy and Conservation Act ( 42 U.S.C. 6241 (k) Drawdown and sale from economic petroleum reserve (1) In general Notwithstanding subsection (d)(1), the Secretary may draw down and sell crude oil from amounts in the Economic Petroleum Reserve established under section 154(g) at any time the front-month futures price of West Texas Intermediate crude oil has remained greater than $90 per barrel for at least one week. (2) Appropriations (A) State energy transportation plans Notwithstanding section 167, there is appropriated to the Secretary of Energy to carry out section 367 an amount equal to $9 for each barrel of crude oil sold under this subsection. (B) Plug-in electric drive vehicle program Notwithstanding section 167, there is appropriated to the Secretary of Energy to carry out section 131(b) of the Energy Independence and Security Act of 2007 ( 42 U.S.C. 17011 (C) Large-Scale transportation sector electrification program Notwithstanding section 167, there is appropriated to the Secretary of Energy to carry out section 131(c) of the Energy Independence and Security Act of 2007 ( 42 U.S.C. 17011 (D) Assistance for Western Hemisphere refineries Notwithstanding section 167, there is appropriated to the Secretary of Energy to carry out section 301 of the Buy Low and Sell High Act . 102. Establishing Strategic Refined Petroleum Product Reserves (a) Establishment Title I of the Energy Policy and Conservation Act ( 42 U.S.C. 6234 E Strategic Refined Petroleum Product Reserves 191. Definitions In this part: (1) District The term district (A) a Petroleum Administration for Defense District; or (B) a subdistrict of a Petroleum Administration for Defense District. (2) Network The term network (3) Reserve The term Reserve 192. Establishment (a) In general Notwithstanding any other provision of this Act, the Secretary shall establish, maintain, and operate a national network of Strategic Refined Petroleum Product Reserves. (b) Locations In carrying out subsection (a), the Secretary shall establish, maintain, and operate at least one Reserve in each district. (c) Capacity Each Reserve shall have the capacity to contain at least 4,000,000 barrels of gasoline and 2,000,000 barrels of diesel fuel, and the network shall have the capacity to contain up to 250,000,000 barrels of gasoline and diesel fuel. (d) Relationship to SPR and Northeast Home Heating Oil Reserve A Reserve established under this part is not a component of the Strategic Petroleum Reserve established under part B of this title or the Northeast Home Heating Oil Reserve established under part D of this title. 193. Authority To the extent necessary or appropriate to carry out this part, the Secretary may— (1) purchase, contract for, lease, or otherwise acquire, in whole or in part, storage and related facilities, and storage services; (2) use, lease, maintain, sell, or otherwise dispose of storage and related facilities acquired under this part; (3) acquire by purchase, exchange (including exchange of petroleum products from the Strategic Petroleum Reserve or received as royalty from Federal lands), lease, or otherwise, gasoline or diesel fuel for storage in a Reserve; (4) store gasoline or diesel fuel in facilities not owned by the United States; and (5) sell, exchange, or otherwise dispose of gasoline or diesel fuel from a Reserve established under this part, including to maintain the quality or quantity of the gasoline or diesel fuel in a Reserve or to maintain the operational capability of a Reserve. 194. Conditions for release (a) Gasoline release The Secretary may sell gasoline from a Reserve only upon a finding by the President that there is a severe gasoline supply interruption within the district in which the Reserve is located. Such a finding may be made only if the President determines that— (1) a dislocation in the gasoline market has resulted from such interruption; or (2) a circumstance, other than that described in paragraph (1), exists that constitutes a regional gasoline supply shortage of significant scope and duration and that action taken under this section would assist directly and significantly in reducing the adverse impact of such shortage. (b) Diesel release The Secretary may sell diesel fuel from a Reserve only upon a finding by the President that there is a severe diesel fuel supply interruption within the district in which the Reserve is located. Such a finding may be made only if the President determines that— (1) a dislocation in the diesel fuel market has resulted from such interruption; or (2) a circumstance, other than that described in paragraph (1), exists that constitutes a regional diesel fuel supply shortage of significant scope and duration and that action taken under this section would assist directly and significantly in reducing the adverse impact of such shortage. (c) Definitions For purposes of this section— (1) the term covered entity (A) the People’s Republic of China; (B) the Democratic People’s Republic of Korea; (C) the Russian Federation; (D) the Islamic Republic of Iran; (E) any other country the government of which is subject to sanctions imposed by the United States; and (F) any entity owned, controlled, or influenced by— (i) a country referred to in any of subparagraphs (A) through (F); or (ii) the Chinese Communist Party; (2) a dislocation in the gasoline market (A) the price differential between crude oil and finished gasoline, as reflected in an industry daily publication, increases by more than 50 percent over its 10-year rolling average, and continues for 7 consecutive days; and (B) the price differential continues to increase during the most recent week for which price information is available; and (3) a dislocation in the diesel fuel market (A) the price differential between crude oil and diesel fuel, as reflected in an industry daily publication, increases by more than 50 percent over its 10-year rolling average, and continues for 7 consecutive days; and (B) the price differential continues to increase during the most recent week for which price information is available. (d) Continuing evaluation The Secretary shall conduct a continuing evaluation of the price data supplied by the Energy Information Administration and data on gasoline and diesel fuel prices from published sources. (e) Release of petroleum products After consultation with the gasoline, diesel fuel, and crude oil refining industries, the Secretary shall determine procedures governing the release of gasoline and diesel fuel from a Reserve. The procedures shall provide that— (1) the Secretary may— (A) sell gasoline or diesel fuel from a Reserve through a competitive process; or (B) enter into exchange agreements for gasoline or diesel fuel that results in the Secretary receiving a greater volume of gasoline or diesel fuel as repayment than the volume provided to the acquirer; (2) in all such sales or exchanges, the Secretary shall receive revenue or its equivalent in gasoline or diesel fuel that provides the Department with fair market value; (3) the Secretary shall only sell or dispose of the gasoline or diesel fuel in the Reserve to entities customarily engaged in the sale and distribution of gasoline or diesel fuel; and (4) the Secretary shall prohibit the sale or export of gasoline or diesel fuel released under this section to a covered entity, except that the Secretary may issue a waiver of such prohibition if the Secretary certifies that any export or sale authorized pursuant to the waiver is in the national security interests of the United States. (f) Plan Not later than 180 days after the date of the enactment of this section, the Secretary shall transmit to the President and, if the President approves, to the Congress a plan describing— (1) the acquisition of storage and related facilities or storage services for the network, including the potential use of storage facilities not currently in use; (2) the acquisition of gasoline and diesel fuel for storage in the network; (3) the anticipated methods of disposition of gasoline and diesel fuel from the network; (4) the estimated costs of establishment, maintenance, and operation of the network; (5) efforts the Department will take to minimize any potential need for future drawdowns and ensure that distributors and importers are not discouraged from maintaining and increasing supplies to the United States; and (6) actions to ensure quality of the gasoline and diesel fuel in the network. 195. Proceeds from sales The Secretary of the Treasury shall deposit in the SPR Petroleum Account established in the Treasury under section 167 any receipts from the sale, exchange, or other disposition of gasoline or diesel fuel from the network. 196. Restrictions (a) Source No gasoline or diesel fuel produced at a refinery located outside of the United States may be stored in a Reserve. (b) Timing The Secretary may not purchase gasoline or diesel fuel under this part until 2026. . (b) Conforming amendments (1) Authorization of appropriations Section 166 of the Energy Policy and Conservation Act ( 42 U.S.C. 6246 and part D , part D, and part E (2) Clerical amendment The table of contents for the Energy Policy and Conservation Act is amended in the matter relating to title I by striking the items relating to the second part D (relating to Expiration) and the second section 181 and inserting the following: Part E—Strategic Refined Petroleum Product Reserves Sec. 191. Definitions. Sec. 192. Establishment. Sec. 193. Authority. Sec. 194. Conditions for release. Sec. 195. Proceeds from sales. Sec. 196. Restrictions. . 103. Northeast Home Heating Oil Reserve (a) Strengthening the Northeast Home Heating Oil Reserve Section 181(a) of the Energy Policy and Conservation Act ( 42 U.S.C. 6250 2 million 4 million (b) Conditions for release Section 183 of the Energy Policy and Conservation Act ( 42 U.S.C. 6250b (1) in subsection (b)— (A) in the subsection heading, by striking Definition Definitions (B) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively (and adjusting the margins accordingly); and (C) by striking For purposes of this section a dislocation in the heating oil market (1) the term covered entity (A) the People’s Republic of China; (B) the Democratic People’s Republic of Korea; (C) the Russian Federation; (D) the Islamic Republic of Iran; (E) any other country the government of which is subject to sanctions imposed by the United States; and (F) any entity owned, controlled, or influenced by— (i) a country referred to in any of subparagraphs (A) through (F); or (ii) the Chinese Communist Party; and (2) a dislocation in the heating oil market ; and (2) in subsection (d)— (A) in paragraph (2), by striking ; and (B) in paragraph (3), by striking the period at the end and inserting ; and (C) by adding at the end the following: (4) the Secretary shall prohibit the sale or export of petroleum distillate released under this section to a covered entity, except that the Secretary may issue a waiver of such prohibition if the Secretary certifies that any export or sale authorized pursuant to the waiver is in the national security interests of the United States. . (c) Proceeds from sales (1) In general Section 184 of the Energy Policy and Conservation Act ( 42 U.S.C. 6250c 184. Proceeds from sales The Secretary of the Treasury shall deposit in the SPR Petroleum Account established in the Treasury under section 167 any receipts from the sale, exchange, or other disposition of petroleum distillate from the Reserve. . (2) Clerical amendment The table of contents for the Energy Policy and Conservation Act is amended by striking the item relating to section 184 and inserting the following: 184. Proceeds from sales. . (d) Elimination of limitation Title III of the Energy and Water Development and Related Agencies Appropriations Act, 2012 (division B of the Consolidated Appropriations Act, 2012 ( Public Law 112–74 : Provided further 42 U.S.C. 6250 104. SPR Petroleum Account (a) In general Section 167 of the Energy Policy and Conservation Act ( 42 U.S.C. 6247 (1) in subsection (b)— (A) by striking the acquisition, transportation, and injection of petroleum products into the Strategic Petroleum Reserve, for test sales of petroleum products from the Reserve, and for the drawdown, sale, and delivery of petroleum products from the Reserve covered activities (B) in paragraph (3), by striking the receipts to the United States from the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection (g) of such section, or from the sale of petroleum products under section 160(f) covered receipts (2) in subsection (d), by striking the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection (g) of such section, and from the sale of petroleum products under section 160(f) covered sales (3) by adding at the end the following: (e) Definitions In this section: (1) Covered activity The term covered activity (A) the acquisition, transportation, and injection of petroleum products into the Strategic Petroleum Reserve; (B) the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection (g) of such section; (C) the sale of petroleum products under section 160(f); (D) an activity under part D; and (E) an activity under part E. (2) Covered sale The term covered sale (A) the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection (g) of such section; (B) the sale of petroleum products under section 160(f); (C) the sale, exchange, or other disposition of petroleum distillate from the Northeast Home Heating Oil Reserve; and (D) the sale, exchange, or other disposition of gasoline or diesel fuel from a Strategic Refined Petroleum Product Reserve. (3) Covered receipts The term covered receipts (A) receipts to the United States from the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161 (including a drawdown and distribution carried out under subsection (g) of such section), less amounts equal to any amounts appropriated by subsection (k)(2) of such section; (B) receipts to the United States from the sale of petroleum products under section 160(f); (C) receipts to the United States from the sale, exchange, or other disposition of petroleum distillate from the Northeast Home Heating Oil Reserve; and (D) receipts to the United States from the sale, exchange, or other disposition of gasoline or diesel fuel from a Strategic Refined Petroleum Product Reserve. . (b) Transfer of funds The assets and liabilities of the Northeast Home Heating Oil Reserve Account established in the Treasury under section 184 of the Energy Policy and Conservation Act ( 42 U.S.C. 6250c 42 U.S.C. 6247 105. Prohibition on certain exports (a) In general The Energy Policy and Conservation Act is amended by inserting after section 163 ( 42 U.S.C. 6243 164. Prohibition on certain exports (a) In general The Secretary shall prohibit the export or sale of petroleum products drawn down from the Strategic Petroleum Reserve, under any provision of law, to— (1) the People’s Republic of China; (2) the Democratic People’s Republic of Korea; (3) the Russian Federation; (4) the Islamic Republic of Iran; (5) any other country the government of which is subject to sanctions imposed by the United States; and (6) any entity owned, controlled, or influenced by— (A) a country referred to in any of paragraphs (1) through (5); or (B) the Chinese Communist Party. (b) Waiver The Secretary may issue a waiver of the prohibition described in subsection (a) if the Secretary certifies that any export or sale authorized pursuant to the waiver is in the national security interests of the United States. (c) Rule Not later than 60 days after the date of enactment of the Buy Low and Sell High Act, the Secretary shall issue a rule to carry out this section. . (b) Conforming amendments (1) Drawdown and sale of petroleum products Section 161(a) of the Energy Policy and Conservation Act ( 42 U.S.C. 6241(a) and section 164 (2) Clerical amendment The table of contents for the Energy Policy and Conservation Act is amended by inserting after the item relating to section 163 the following: Sec. 164. Prohibition on certain exports. . 106. Strategic Petroleum Reserve reforms (a) Use of underutilized strategic petroleum reserve facilities Section 168 of the Energy Policy and Conservation Act ( 42 U.S.C. 6247a 168. Use of underutilized facilities (a) Authority Notwithstanding any other provision of this title, the Secretary may establish and carry out a program to lease underutilized Strategic Petroleum Reserve storage facilities and related facilities to the private sector, or a foreign government or its representative. Petroleum products stored under this section are not part of the Strategic Petroleum Reserve. (b) Protection of facilities Any lease entered into under the program established under subsection (a) shall contain provisions providing for fees to fully compensate the United States for all related costs of storage and removals of petroleum products (including the proportionate cost of replacement facilities necessitated as a result of any withdrawals) incurred by the United States as a result of such lease. (c) Access by the United States The Secretary shall ensure that leasing of facilities under the program established under subsection (a) does not impair the ability of the United States to withdraw, distribute, or sell petroleum products from the Strategic Petroleum Reserve in response to an energy emergency or to the obligations of the United States under the Agreement on an International Energy Program. (d) National security The Secretary shall ensure that leasing of facilities under the program established under subsection (a) to a foreign government or its representative will not impair national security. (e) Deposits of amounts received (1) In general Except as provided in paragraph (2), amounts received through the leasing of facilities under the program established under subsection (a) shall be deposited in the SPR Petroleum Account established in the Treasury under section 167 during the fiscal year in which such amounts are received. (2) Costs The Secretary may use for costs described in subsection (b) (other than costs described in subsection (f)), without further appropriation, amounts received through the leasing of facilities under the program established under subsection (a). (f) Preparation of facilities The Secretary shall only use amounts available in the Energy Security and Infrastructure Modernization Fund established by section 404 of the Bipartisan Budget Act of 2015 for costs described in subsection (b) of this section that relate to addition of facilities or changes to facilities or facility operations necessary to lease such facilities, including costs related to acquisition of land, acquisition of ancillary facilities and equipment, and site development, and other necessary costs related to capital improvement. . (b) Pilot program To lease Strategic Petroleum Reserves (1) In general Part B of title I of the Energy Policy and Conservation Act ( 42 U.S.C. 6231 et seq. 170. Pilot program to lease storage and related facilities (a) Establishment In carrying out section 168 and not later than 180 days after the date of enactment of this section, the Secretary shall establish and carry out a pilot program to make available for lease— (1) capacity for storage of up to 200,000,000 barrels of petroleum products at Strategic Petroleum Reserve storage facilities; and (2) related facilities. (b) Contents In carrying out the pilot program established under subsection (a), the Secretary shall— (1) identify appropriate Strategic Petroleum Reserve storage facilities and related facilities to lease, in order to make maximum use of such facilities; (2) identify and implement any changes to facilities or facility operations necessary to so lease such facilities, including any such changes necessary to ensure the long-term structural viability and use of the facilities for purposes of this part and part C; (3) make such facilities available for lease; and (4) identify environmental effects, including benefits, of leasing storage facilities and related facilities. (c) Report Not later than 1 year after the date of enactment of this section, the Secretary shall submit to Congress a report on the status of the pilot program established under subsection (a). . (2) Conforming Amendment The table of contents for the Energy Policy and Conservation Act is amended by adding after the item relating to section 169 the following: Sec. 170. Pilot program to lease storage and related facilities. . 107. Strategic Petroleum Reserve drawdown and sale (a) Reconciliation on the budget for fiscal year 2018 Section 20003(a) of Public Law 115–97 (1) in paragraph (1), by striking during the period of fiscal years 2026 through 2027 by the end of fiscal year 2027 (2) by adding at the end the following: (3) Timing In determining the timing of each drawdown and sale from the Strategic Petroleum Reserve under this section, to the maximum extent practicable, the Secretary shall maximize the financial return to the United States taxpayers. . (b) America’s Water Infrastructure Act of 2018 Section 3009(a) of America’s Water Infrastructure Act of 2018 ( Public Law 115–270 (1) in paragraph (1), by striking during by the end of (2) by adding at the end the following: (3) Timing In determining the timing of each drawdown and sale from the Strategic Petroleum Reserve under this section, to the maximum extent practicable, the Secretary shall maximize the financial return to the United States taxpayers. . (c) Infrastructure Investment and Jobs Act Section 90002(a) of the Infrastructure Investment and Jobs Act ( Public Law 117–58 (1) in paragraph (1), by striking during the period of fiscal years 2028 through 2031 by the end of fiscal year 2032 (2) by amending paragraph (2) to read as follows: (2) Timing In determining the timing of each drawdown and sale from the Strategic Petroleum Reserve under this section, to the maximum extent practicable, the Secretary shall maximize the financial return to the United States taxpayers. . 108. DOE study and plan for delivery of fuel during pipeline disruptions Not later than 24 months after the date of enactment of this Act, the Secretary of Energy shall— (1) conduct a study on how the Department of Energy could deliver products sold from the Strategic Petroleum Reserve, a Strategic Refined Petroleum Product Reserve, or the Northeast Home Heating Oil Reserve in the event of an attack or disruption that renders pipelines to deliver such products unusable; and (2) submit to Congress a plan, based on the results of such study, to carry out such delivery. II Fuel Demand 201. State energy transportation plans (a) State energy transportation plans (1) In general Part D of title III of the Energy Policy and Conservation Act ( 42 U.S.C. 6321 et seq. 367. State energy transportation plans (a) In general The Secretary may provide financial assistance to a State to develop a State energy transportation plan, for inclusion in a State energy conservation plan under section 362(d), to promote the electrification of the transportation system, reduced consumption of fossil fuels, and improved air quality. (b) Development A State developing a State energy transportation plan under this section shall carry out this activity through the State energy office that is responsible for developing the State energy conservation plan under section 362. (c) Contents A State developing a State energy transportation plan under this section shall include in such plan a plan to— (1) deploy a network of electric vehicle supply equipment to ensure access to electricity for electric vehicles, including commercial vehicles, to an extent that such electric vehicles can travel throughout the State without running out of a charge; (2) promote modernization of the electric grid, including through the use of renewable energy sources to power the electric grid, to accommodate demand for power to operate electric vehicle supply equipment and to utilize energy storage capacity provided by electric vehicles, including commercial vehicles; and (3) implement other measures to reduce the consumption of petroleum-based fuels. (d) Coordination In developing a State energy transportation plan under this section, a State shall coordinate, as appropriate, with— (1) State regulatory authorities (as defined in section 3 of the Public Utility Regulatory Policies Act of 1978 ( 16 U.S.C. 2602 (2) electric utilities; (3) regional transmission organizations or independent system operators; (4) private entities that provide electric vehicle charging services; (5) State transportation agencies, metropolitan planning organizations, and local governments; (6) electric vehicle manufacturers; (7) public and private entities that manage vehicle fleets; and (8) public and private entities that manage ports, airports, or other transportation hubs. (e) Technical assistance Upon request of the Governor of a State, the Secretary shall provide information and technical assistance in the development, implementation, or revision of a State energy transportation plan. (f) Electric vehicle supply equipment defined For purposes of this section, the term electric vehicle supply equipment . (2) Conforming amendment The table of sections for part D of title III of the Energy Policy and Conservation Act is amended by adding at the end the following: Sec. 367. State energy transportation plans. . (b) State energy conservation plans Section 362(d) of the Energy Policy and Conservation Act ( 42 U.S.C. 6322(d) (1) in paragraph (17), by striking ; and (2) by redesignating paragraph (18) as paragraph (19); and (3) by inserting after paragraph (17) the following: (18) a State energy transportation plan developed in accordance with section 367; and . (c) Authorization of appropriations Section 365(f) of the Energy Policy and Conservation Act ( 42 U.S.C. 6325(f) (3) State energy transportation plans In addition to the amounts authorized under paragraph (1), for the purpose of carrying out section 367, there are authorized to be appropriated such sums as may be necessary. . 202. Transportation electrification Section 131 of the Energy Independence and Security Act of 2007 ( 42 U.S.C. 17011 (1) in subsection (a)(6)— (A) in subparagraph (A), by inserting , including ground support equipment at ports (B) in subparagraph (E), by inserting and vehicles (C) in subparagraph (H), by striking and (D) in subparagraph (I)— (i) by striking battery chargers, (ii) by striking the period at the end and inserting a semicolon; and (E) by adding at the end the following: (J) installation of electric vehicle supply equipment for recharging plug-in electric drive vehicles, including such equipment that is accessible in rural and urban areas and in underserved or disadvantaged communities and such equipment for medium- and heavy-duty vehicles, including at depots and in-route locations; (K) multi-use charging hubs used for multiple forms of transportation; (L) medium- and heavy-duty vehicle smart charging management and refueling; (M) battery recycling and secondary use, including for medium- and heavy-duty vehicles; and (N) sharing of best practices, and technical assistance provided by the Department to public utilities commissions and utilities, for medium- and heavy-duty vehicle electrification. ; (2) in subsection (b)— (A) in paragraph (3)(A)(ii), by inserting , components for such vehicles, and charging equipment for such vehicles vehicles (B) in paragraph (6), by striking $90,000,000 for each of fiscal years 2008 through 2012 such sums as may be necessary (3) in subsection (c)— (A) in the header, by striking Near-Term Large-Scale (B) in paragraph (4), by striking $95,000,000 for each of fiscal years 2008 through 2013 such sums as may be necessary (4) by redesignating subsection (d) as subsection (e) and inserting after subsection (c) the following: (d) Priority In providing grants under subsections (b) and (c), the Secretary shall give priority consideration to applications that contain a written assurance that all laborers and mechanics employed by contractors or subcontractors during construction, alteration, or repair that is financed, in whole or in part, by a grant provided under this section shall be paid wages at rates not less than those prevailing on similar construction in the locality, as determined by the Secretary of Labor in accordance with sections 3141 through 3144, 3146, and 3147 of title 40, United States Code (and the Secretary of Labor shall, with respect to the labor standards described in this clause, have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (5 U.S.C. App.) and section 3145 of title 40, United States Code). . 203. Federal fleets (a) Minimum Federal fleet requirement Section 303 of the Energy Policy Act of 1992 ( 42 U.S.C. 13212 (1) in subsection (a), by adding at the end the following: (3) The Secretary, in consultation with the Administrator of General Services, shall ensure that in acquiring medium- and heavy-duty vehicles for a Federal fleet, a Federal entity shall acquire zero-emission vehicles to the maximum extent feasible. ; (2) by striking subsection (b) and inserting the following: (b) Percentage requirements (1) In general (A) Light-duty vehicles Beginning in fiscal year 2026, 100 percent of the total number of light-duty vehicles acquired by a Federal entity for a Federal fleet shall be alternative fueled vehicles, of which— (i) at least 50 percent shall be zero-emission vehicles or plug-in hybrids in fiscal years 2026 through 2034; (ii) at least 75 percent shall be zero-emission vehicles or plug-in hybrids in fiscal years 2035 through 2049; and (iii) 100 percent shall be zero-emission vehicles in fiscal year 2050 and thereafter. (B) Medium- and heavy-duty vehicles The following percentages of the total number of medium- and heavy-duty vehicles acquired by a Federal entity for a Federal fleet shall be alternative fueled vehicles: (i) At least 20 percent in fiscal years 2026 through 2029. (ii) At least 30 percent in fiscal years 2030 through 2039. (iii) At least 40 percent in fiscal years 2040 through 2049. (iv) At least 50 percent in fiscal year 2050 and thereafter. (2) Exception The Secretary, in consultation with the Administrator of General Services where appropriate, may permit a Federal entity to acquire for a Federal fleet a smaller percentage than is required in paragraph (1) for a fiscal year, so long as the aggregate percentage acquired for each class of vehicle for all Federal fleets in the fiscal year is at least equal to the required percentage. (3) Definitions In this subsection: (A) Federal fleet The term Federal fleet (i) motor vehicles held for lease or rental to the general public; (ii) motor vehicles used for motor vehicle manufacturer product evaluations or tests; (iii) law enforcement vehicles; (iv) emergency vehicles; or (v) motor vehicles acquired and used for military purposes that the Secretary of Defense has certified to the Secretary must be exempt for national security reasons. (B) Fleet The term fleet (i) 20 or more light-duty vehicles, located in a metropolitan statistical area or consolidated metropolitan statistical area, as established by the Bureau of the Census, with a 1980 population of more than 250,000; or (ii) 10 or more medium- or heavy-duty vehicles, located at a Federal facility or located in a metropolitan statistical area or consolidated metropolitan statistical area, as established by the Bureau of the Census, with a 1980 population of more than 250,000. ; and (3) in subsection (f)(2)(B)— (A) by striking , either (B) in clause (i), by striking or and (b) Federal fleet conservation requirements Section 400FF(a) of the Energy Policy and Conservation Act ( 42 U.S.C. 6374e (1) in paragraph (1)— (A) by striking 18 months after the date of enactment of this section 12 months after the date of enactment of the Buy Low and Sell High Act (B) by striking 2010 2023 (C) by striking and increase alternative fuel consumption , increase alternative fuel consumption, and reduce vehicle greenhouse gas emissions (2) by striking paragraph (2) and inserting the following: (2) Goals The goals of the requirements under paragraph (1) are that each Federal agency shall— (A) reduce fleet-wide per-mile greenhouse gas emissions from agency fleet vehicles, relative to a baseline of emissions in 2015, by— (i) not less than 30 percent by the end of fiscal year 2026; (ii) not less than 50 percent by the end of fiscal year 2030; and (iii) 100 percent by the end of fiscal year 2050; and (B) increase the annual percentage of alternative fuel consumption by agency fleet vehicles as a proportion of total annual fuel consumption by Federal fleet vehicles, to achieve— (i) 25 percent of total annual fuel consumption that is alternative fuel by the end of fiscal year 2026; (ii) 50 percent of total annual fuel consumption that is alternative fuel by the end of fiscal year 2035; and (iii) at least 85 percent of total annual fuel consumption that is alternative fuel by the end of fiscal year 2050. . III Fuel Supply 301. Assistance for Western Hemisphere refineries (a) Establishment The Secretary of Energy shall establish and carry out a program to increase the amount of crude oil refined in oil refineries located in covered countries by— (1) developing, producing, or procuring resources, materials, or equipment that can be used at such oil refineries to increase the amount of crude oil refined at such oil refineries; (2) providing to covered entities, under such terms and conditions as the Secretary of Energy determines appropriate, resources, materials, or equipment that can be used at such oil refineries to increase the amount of crude oil refined at such oil refineries; (3) issuing grants, loans, or loan guarantees to covered entities, under such terms and conditions as the Secretary of Energy determines appropriate, to carry out projects in covered countries that can increase the amount of crude oil refined in such oil refineries; and (4) providing technical assistance to covered entities, as the Secretary of Energy determines necessary to increase the amount of crude oil refined in such oil refineries. (b) Partnerships The Secretary of Energy may partner with other Federal agencies to carry out the program established under subsection (a). (c) Authority To enter into agreements In carrying out the program established under subsection (a), the Secretary of Energy may enter into one or more agreements directly with third parties under such terms and conditions as the Secretary of Energy determines appropriate. (d) Definitions In this section: (1) Covered country The term covered country (2) Covered entity The term covered entity (e) Authorization of appropriations There is authorized to be appropriated to the Secretary of Energy to carry out this section $90,000,000 for fiscal year 2024, to remain available until September 30, 2026.

Summary: Buy Low and Sell High Act This bill revises requirements concerning the Strategic Petroleum Reserve (SPR) and sets forth provisions to reduce the demand for petroleum fuel and increase fuel supply. For example, the bill directs the Department of Energy (DOE) to establish within the SPR an Economic Petroleum Reserve of up to 350 million barrels of crude oil. DOE must also establish a national network of Strategic Refined Petroleum Product Reserves to store up to 250 million barrels of gasoline and diesel fuel, which may be sold when there is a severe fuel supply interruption within the district in which the reserve is located. In addition, the bill increases the cap on the amount of barrels of petroleum distillate that may be stored in the Northeast Home Heating Oil Reserve from two million to four million. It also establishes limits on the sale and exportation of petroleum products from such reserves. Further, the bill establishes provisions concerning electrifying the transportation sector, zero-emission vehicles, and a program to increase the amount of crude oil refined in oil refineries in certain countries in the Western Hemisphere.