I 
110TH CONGRESS 
2D SESSION 
H. R. 6067 
To amend the Energy Policy and Conservation Act to help reduce the oil 
prices to consumers, to reduce the cost of petroleum acquisition for 
the Strategic Petroleum Reserve, to better match the composition of 
the Strategic Petroleum Reserve to refinery requirements in the United 
States, to fund energy research and development, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 15, 2008 
Mr. LAMPSON (for himself, Mr. EDWARDS, Mr. MARKEY, Mr. SHAYS, Mr. 
GENE GREEN of Texas, Mr. INGLIS of South Carolina, Mr. MOORE of 
Kansas, Mr. CRAMER, Mr. KIND, Mr. BARTLETT of Maryland, Mr. 
WELCH of Vermont, Mr. HILL, Ms. GIFFORDS, Mr. BOSWELL, Mr. 
BISHOP of Georgia, Mr. WILSON of Ohio, Mr. CHANDLER, Mr. HALL of 
New York, Mr. NADLER, Mr. INSLEE, Mr. KAGEN, and Mr. ISRAEL) in-
troduced the following bill; which was referred to the Committee on En-
ergy and Commerce, and in addition to the Committee on Science and 
Technology, for a period to be subsequently determined by the Speaker, 
in each case for consideration of such provisions as fall within the juris-
diction of the committee concerned 
A BILL 
To amend the Energy Policy and Conservation Act to help 
reduce the oil prices to consumers, to reduce the cost 
of petroleum acquisition for the Strategic Petroleum Re-
serve, to better match the composition of the Strategic 
Petroleum Reserve to refinery requirements in the United 
States, to fund energy research and development, and 
for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Invest in Energy Inde-
pendence Act’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
(1) The composition of petroleum that is cur-
rently being acquired for the Strategic Petroleum 
Reserve is putting upward pressure on world oil 
prices and the ultimate price of gasoline and other 
petroleum products for consumers. 
(2) The quality of petroleum that is currently 
being acquired for the Strategic Petroleum Reserve 
is contributing to the growing disparity between the 
types of petroleum in the Reserve and the current 
processing capabilities of petroleum refineries in the 
United States. 
(3) The composition of petroleum in the Stra-
tegic Petroleum Reserve should more closely match 
the current processing capabilities of petroleum re-
finers in the United States, which should reduce the 
cost of acquiring petroleum for the Reserve. 
(4) Lighter grade petroleum with an API grav-
ity of 35 degrees or higher is in significantly greater 
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demand than heavy grade petroleum with an API 
gravity of 26 degrees or lower, creating a significant 
premium in the price of light grade petroleum rel-
ative to heavy grade petroleum. 
(5) Significant additional funding is needed for 
important energy research and development activi-
ties that will help reduce United States dependence 
on oil and transform our energy infrastructure 
through the adoption of clean domestic energy tech-
nologies. 
(6) Current acquisitions of petroleum for the 
Strategic Petroleum Reserve are pursued on a vol-
ume-per-month basis, which is not as cost-effective 
as other approaches that take advantage of market 
fluctuations. 
SEC. 3. DEFINITIONS. 
In this Act— 
(1) the term ‘‘light grade petroleum’’ means— 
(A) crude oil in the Strategic Petroleum 
Reserve categorized as Bayou Choctaw Sweet, 
Big Hill Sweet, West Hackberry Sweet, or 
Bryan Mound Sweet; and 
(B) oil acquired for storage in the Stra-
tegic Petroleum Reserve with one of the cat-
egories of oil referred to in subparagraph (A); 
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(2) the term ‘‘heavy grade petroleum’’ means 
crude oil with an API gravity of 26 degrees or lower; 
and 
(3) the term ‘‘Secretary’’ means the Secretary 
of Energy. 
SEC. 4. OBJECTIVES. 
The objectives of this Act are as follows: 
(1) To increase the total inventory level in the 
Strategic Petroleum Reserve without the need for 
additional appropriations. 
(2) To reduce the cost of petroleum acquisition 
for the Strategic Petroleum Reserve. 
(3) To provide increased funding to accelerate 
energy research and development that will reduce 
the United States dependence on oil, transform the 
energy infrastructure through the adoption of clean 
domestic energy technologies, and reduce the emis-
sions of greenhouse gases. 
(4) To modernize the composition of petroleum 
in the Strategic Petroleum Reserve to reflect the 
current processing capabilities of refineries in the 
United States. 
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SEC. 5. MODERNIZATION OF THE STRATEGIC PETROLEUM 
RESERVE. 
(a) INITIAL PETROLEUM EXCHANGE FROM
THE 
STRATEGIC
PETROLEUM
RESERVE.—Notwithstanding 
section 161 of the Energy Policy and Conservation Act 
(42 U.S.C. 6241), the Secretary shall publish a plan not 
later than 30 days after the date of enactment of this Act 
to— 
(1) exchange as soon as possible light grade pe-
troleum from the Strategic Petroleum Reserve, in an 
amount equal to 10 percent of the total number of 
barrels of crude oil in the Reserve as of the date of 
enactment of this Act, for an equivalent volume of 
heavy grade petroleum plus any additional cash 
bonus bids received that reflect the difference in the 
market value between light grade petroleum and 
heavy grade petroleum and the timing of deliveries 
of the heavy grade petroleum; 
(2) from the gross proceeds of the cash bonus 
bids, deposit the amount necessary to pay for the di-
rect administrative and operational costs of the ex-
change into the SPR Petroleum Account established 
under section 167 of the Energy Policy and Con-
servation Act (42 U.S.C. 6247); 
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(3) deposit 90 percent of the remaining net pro-
ceeds from the exchange into the account established 
under section 6(a); and 
(4) deposit the remaining balance into the SPR 
Petroleum Account to acquire additional petroleum 
for the Strategic Petroleum Reserve. 
(b) STUDY OF THE POTENTIAL FOR ADDITIONAL EX-
CHANGES
FROM
THE
STRATEGIC
PETROLEUM
RE-
SERVE.—The Secretary shall conduct a study of the po-
tential for additional changes in the composition of light 
grade petroleum and heavy grade petroleum in the Stra-
tegic Petroleum Reserve. The Secretary shall submit to 
Congress a report, containing the results of the study and 
any recommendations with regard to the need for addi-
tional changes in the composition of the petroleum in the 
Reserve, not later than 18 months after the date of enact-
ment of this Act. 
(c) DOLLAR COST AVERAGING.—To decrease the cost 
and improve the efficiency of filling the Strategic Petro-
leum Reserve, the Secretary shall, to the maximum extent 
possible, purchase, exchange, or otherwise acquire crude 
oil for the Reserve on a dollar cost averaging basis. For 
purposes of this subsection, dollar cost averaging means 
an acquisition goal for each fiscal year of a constant 
monthly dollar value of petroleum. 
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(d) DEFERRALS.—The Secretary may, when eco-
nomically beneficial and practical, grant requests to defer 
scheduled deliveries of petroleum to the Reserve if it will 
receive a premium for the deferral paid in additional bar-
rels of oil which will reduce the cost of oil acquisition and 
increase the volume of oil delivered to the Reserve. 
SEC. 6. ENERGY INDEPENDENCE AND SECURITY FUND. 
(a) ESTABLISHMENT.—There is hereby established in 
the Treasury of the United States the ‘‘Energy Independ-
ence and Security Fund’’ (in this section referred to as 
‘‘the Fund’’). 
(b) ADMINISTRATION.—The Secretary shall be re-
sponsible for administering the Fund for the purpose of 
carrying out this section. 
(c) DEPOSITS.—The Secretary shall transfer the bal-
ance of funds in the SPR Petroleum Account on the date 
of enactment of this Act in excess of $10,000,000 into 
the Fund. 
(d) DISTRIBUTION OF FUNDS.—The Secretary shall 
make available for obligation, without further appropria-
tion and without fiscal year limitation, the following 
amounts from the Fund: 
(1) ADVANCED RESEARCH PROJECTS AGENCY— 
ENERGY.—The 
Secretary 
shall 
transfer 
$100,000,000 to the account ‘‘Energy Trans-
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formation Acceleration Fund’’, established under 
section 5012(m) of the America COMPETES Act 
(42 U.S.C. 16538(m), to remain available until ex-
pended. Of the funds so transferred, the Secretary 
shall further allocate the amounts made available for 
obligation as follows: 
(A) $50,000,000 shall be available for uni-
versity-based research projects. 
(B) $10,000,000 shall be available for pro-
gram direction expenses. 
(2) WIND ENERGY RESEARCH AND DEVELOP-
MENT.—The Secretary shall transfer $15,000,000 to 
the account ‘‘Energy Efficiency and Renewable En-
ergy’’, to remain available until expended, for nec-
essary expenses for a program to support the devel-
opment of next-generation wind turbines, including 
turbines capable of operating in areas with low wind 
speeds, as authorized in section 931(a)(2)(B) of the 
Energy 
Policy 
Act 
of 
2005 
(42 
U.S.C. 
16231(a)(2)(B)). 
(3) SOLAR ENERGY RESEARCH AND DEVELOP-
MENT.—The Secretary shall transfer $30,000,000 to 
the account ‘‘Energy Efficiency and Renewable En-
ergy’’, to remain available until expended, for nec-
essary expenses for a program to accelerate the re-
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search, development, demonstration, and deployment 
of solar energy technologies, and public education 
and outreach materials pursuant to such program, 
as authorized by section 931(a)(2)(A) of the Energy 
Policy Act of 2005 (42 U.S.C. 16231(a)(2)(A)). 
(4) LOW INCOME WEATHERIZATION.—The Sec-
retary shall transfer $100,000,000 to the account 
‘‘Weatherization Assistance Program’’, to remain 
available until expended, for necessary expenses for 
a program to weatherize low income housing, as au-
thorized by section 411 of the Energy Independence 
and Security Act of 2007 (Public Law 110–140). 
(5) MARINE AND HYDROKINETIC RENEWABLE 
ELECTRIC
ENERGY.—The Secretary shall transfer 
$30,000,000 to the account ‘‘Energy Efficiency and 
Renewable Energy’’, to remain available until ex-
pended, for necessary expenses for a program to ac-
celerate the research, development, demonstration, 
and deployment of ocean and wave energy, including 
hydrokinetic renewable energy, as authorized by sec-
tion 931 of the Energy Policy Act of 2005 (42 
U.S.C. 16231) and section 636 of the Energy Inde-
pendence and Security Act of 2007 (42 U.S.C. 
17215). 
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(6) ADVANCED VEHICLES RESEARCH, DEVELOP-
MENT, AND DEMONSTRATION.—The Secretary shall 
transfer $40,000,000 to the account ‘‘Energy Effi-
ciency and Renewable Energy’’, to remain available 
until expended, for necessary expenses for research, 
development, and demonstration on advanced, cost- 
effective technologies to improve the energy effi-
ciency and environmental performance of vehicles, as 
authorized in section 911(a)(2)(A) of the Energy 
Policy Act of 2005 (42 U.S.C. 16191(a)(2)(A)). 
(7) INDUSTRIAL
ENERGY
EFFICIENCY
RE-
SEARCH AND DEVELOPMENT.—The Secretary shall 
transfer $110,000,000 to the account ‘‘Energy Effi-
ciency and Renewable Energy’’, to remain available 
until expended, for necessary expenses for a program 
to accelerate the research, development, demonstra-
tion, and deployment of new technologies to improve 
the energy efficiency and reduce greenhouse gas 
emissions from industrial processes, as authorized in 
section 911(a)(2)(C) of the Energy Policy Act of 
2005 (42 U.S.C. 16191(a)(2)(C)) and in section 452 
of the Energy Independence and Security Act of 
2007 (42 U.S.C. 17111). 
(8) BUILDING
AND
LIGHTING
ENERGY
EFFI-
CIENCY RESEARCH AND DEVELOPMENT.—The Sec-
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retary shall transfer $70,000,000 to the account 
‘‘Energy Efficiency and Renewable Energy’’, to re-
main available until expended, for necessary ex-
penses for a program to accelerate the research, de-
velopment, demonstration and deployment of new 
technologies to improve the energy efficiency of and 
reduce greenhouse gas emissions from buildings, as 
authorized in section 321(g) of the Energy Inde-
pendence and Security Act of 2007 (42 U.S.C. 6295 
note), section 422 of the Energy Independence and 
Security Act of 2007 (42 U.S.C. 17082), and section 
912 of the Energy Policy Act of 2005 (42 U.S.C. 
16192). 
(9) GEOTHERMAL
ENERGY
DEVELOPMENT.— 
The Secretary shall transfer $30,000,000 to the ac-
count ‘‘Energy Efficiency and Renewable Energy’’, 
to remain available until expended, for necessary ex-
penses for geothermal research and development ac-
tivities to be managed by the National Renewable 
Energy Laboratory, as authorized by sections 613, 
614, 615, and 616 of the Energy Independence and 
Security Act of 2007 (42 U.S.C. 17192–95) and sec-
tion 931(a)(2)(C) of the Energy Policy Act of 2005 
(42 U.S.C. 16231(a)(2)(C)). 
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(10) SMART GRID TECHNOLOGY RESEARCH, DE-
VELOPMENT, AND DEMONSTRATION.—The Secretary 
shall transfer $30,000,000 to the account ‘‘Energy 
Efficiency and Renewable Energy’’, to remain avail-
able until expended, for necessary expenses for re-
search, development, and demonstration of smart 
grid technologies, as authorized by section 1304 of 
the Energy Independence and Security Act of 2007 
(42 U.S.C. 17384). 
(11) CARBON
CAPTURE
AND
STORAGE.—The 
Secretary shall transfer $385,000,000 to the account 
‘‘Fossil Energy Research and Development’’, to re-
main available until expended, for necessary ex-
penses for a program of demonstration projects of 
carbon capture and storage, and for a research pro-
gram to address public health, safety, and environ-
mental impacts, as authorized by section 963 of the 
Energy Policy Act of 2005 (42 U.S.C. 16293) and 
sections 703 and 707 of the Energy Independence 
and Security Act of 2007 (42 U.S.C. 17251, 
17255). Notwithstanding any other provision of law, 
one of the demonstration projects shall be a compo-
nent of the FutureGen project. 
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(12) NONCONVENTIONAL
DOMESTIC
NATURAL 
GAS
PRODUCTION
AND
ENVIRONMENTAL
RE-
SEARCH.— 
(A) 
The 
Secretary 
shall 
transfer 
$50,000,000 to the account authorized by sec-
tion 999H(e) of the Energy Policy Act of 2005 
(42 U.S.C. 16378(e)), to remain available until 
expended. 
(B) 
The 
Secretary 
shall 
transfer 
$15,000,000 to the account ‘‘Fossil Energy Re-
search and Development’’, to remain available 
until expended, for necessary expenses for a 
program of basin-oriented assessments and pub-
lic and private partnerships involving States 
and industry to foster the development of re-
gional advanced technological, regulatory, and 
economic development strategies for the effi-
cient and environmentally sustainable recovery 
and market delivery of natural gas and
do-
mestic petroleum resources within the United 
States, and for support for the Stripper Well 
Consortium. 
(13) HYDROGEN
RESEARCH
AND
DEVELOP-
MENT.—The Secretary shall transfer $5,000,000 to 
the account ‘‘Energy Efficiency and Renewable En-
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ergy’’, to remain available until expended, for nec-
essary expenses for the Department of Energy’s H- 
Prize Program, as authorized by section 1008(f) of 
the Energy Policy Act of 2005 (42 U.S.C. 
16396(f)). 
(14) ENERGY STORAGE FOR TRANSPORTATION 
AND ELECTRIC POWER.— 
(A) 
The 
Secretary 
shall 
transfer 
$30,000,000 to the account ‘‘Basic Energy 
Sciences’’, to remain available until expended, 
for necessary expenses for a program to accel-
erate basic research on energy storage systems 
to support electric drive vehicles, stationary ap-
plications, and electricity transmission and dis-
tribution, as authorized by section 641(p)(1) of 
the Energy Independence and Security Act of 
2007 (42 U.S.C. 17231(p)(1)). 
(B) 
The 
Secretary 
shall 
transfer 
$70,000,000 to the account ‘‘Energy Efficiency 
and Renewable Energy’’, to remain available 
until expended, including— 
(i) $30,000,000 for a program to ac-
celerate applied research on energy storage 
systems to support electric drive vehicles, 
stationary 
applications, 
and 
electricity 
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transmission and distribution as authorized 
by section 641(p)(2) of the Energy Inde-
pendence and Security Act of 2007 (42 
U.S.C. 17231(p)(2)); 
(ii) $20,000,000 for energy storage 
systems demonstrations as authorized by 
section 641(p)(4) of the Energy Independ-
ence and Security Act of 2007 (42 U.S.C. 
17231(p)(4)); and 
(iii) $20,000,000 for vehicle energy 
storage systems demonstrations as author-
ized by section 641(p)(5) of the Energy 
Independence and Security Act of 2007 
(42 U.S.C. 17231(p)(5)). 
(e) TRANSFER PROCEDURES.—The Secretary shall 
make an initial transfer from the Fund no later than 30 
days after the initial deposit of monies into the Fund. The 
Secretary shall make additional transfers no later than 30 
days after subsequent deposits. If the amount available to 
be transferred is less than the levels authorized under sub-
section (d), the transfers for each program shall be allo-
cated on a pro rata basis. If the amount available to be 
transferred exceeds the levels authorized under subsection 
(d), the transfers for each program shall be increased on 
a pro rata basis. 
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(f) MANAGEMENT AND OVERSIGHT.— 
(1) ADDITIONALITY
OF
FISCAL
YEAR
2008 
TRANSFERS.—All amounts transferred under sub-
section (d) shall be in addition to, and shall not be 
substituted for, any funds appropriated for the same 
or similar purposes in the Consolidated Appropria-
tions Act, 2008. 
(2) EXCESS FUNDS.—The total of all amounts 
transferred under subsection (d) and any funds ap-
propriated for the same or similar purposes in the 
Consolidated Appropriations Act, 2008 may not ex-
ceed the amounts authorized in other Acts for such 
purposes. In the event that amounts made available 
under this Act plus amounts under the Consolidated 
Appropriations Act, 2008 exceed the cumulative 
amounts authorized in other Acts for any program 
funded by this Act, the excess amounts shall be dis-
tributed to the other programs funded by this Act 
on a pro rata basis. 
(3) PROGRAM PLANS AND PERFORMANCE MEAS-
URES.—The Secretary shall prepare and publish in 
the Federal Register a plan for the proposed use of 
all funds authorized in subsection (d). The plan also 
shall identify how the use of these funds will be ad-
ditive to, and not displace, annual appropriations. 
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The plans also shall identify performance measures 
to assess the additional benefits that may be realized 
from the application of the additional funding pro-
vided under this section. The initial plan shall be 
published in the Federal Register not later than 90 
days after the date of enactment of this Act. 
(4) CONGRESSIONAL
OVERSIGHT
AND
RE-
VIEW.—Nothing in this section shall limit or restrict 
the review and oversight of program plans by the ap-
propriate committees of Congress. Nothing in this 
section shall limit or restrict the authority of Con-
gress to set alternative spending limitations in an-
nual appropriations Acts. 
(5) APPORTIONMENT.—All transactions of the 
Fund shall be exempt from apportionment under the 
provisions of subchapter II of chapter 15 of title 31, 
United States Code. 
Æ 
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