Home Heating Oil Price Reduction Act
Bill: H.R.9008 | Sponsor: Rep. Kuster, Ann M. (D-NH)
Policy area: Energy

Summary:
Home Heating Oil Price Reduction Act
This bill increases the cap on the number of barrels of petroleum distillate that may be stored in the Northeast Home Heating Oil Reserve from 2 million to 4 million. It also restricts sales or exports from that reserve to (1) China, Iran, North Korea, Russia, and any other country subject to U.S. sanctions; and (2) entities owned, controlled, or affiliated with any of those countries.

To increase the size of the Northeast Home Heating Oil Reserve, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Home Heating Oil Price Reduction 
Act''.

SEC. 2. 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) is 
amended by striking ``2 million'' and inserting ``4 million''.
    (b) Conditions for Release.--Section 183 of the Energy Policy and 
Conservation Act (42 U.S.C. 6250b) is amended--
            (1) in subsection (b)--
                    (A) in the subsection heading, by striking 
                ``Definition'' and inserting ``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''' and inserting 
                the following: ``For purposes of this section--
            ``(1) the term `covered entity' means--
                    ``(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'' and 
                inserting a semicolon;
                    (B) in paragraph (3), by striking the period at the 
                end and inserting ``; and''; 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) 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; 125 
Stat. 869)), is amended, under the Northeast Home Heating Oil Reserve 
account, by striking ``: Provided further, That notwithstanding section 
181 of the Energy Policy and Conservation Act (42 U.S.C. 6250), for 
fiscal year 2012 and hereafter, the Reserve shall contain no more than 
1 million barrels of petroleum distillate''.
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