Gasoline Price Stabilization Act of 2005

Bill: 109-hr-3544
Sponsor: Rep. DeFazio, Peter A. [D-OR-4]
Introduced: 2005-07-28 in the House
Policy area: Energy
Subjects: Administrative procedure
Alaska
Armed Forces and National Security
Automobiles
Aviation fuels
Buy American
Cartels
Civil actions and liability
Collective bargaining
Commerce
Competition
Congress
Congressional investigations
Congressional reporting requirements
Corporate mergers
Department of Transportation
Economic concentration
Economics and Public Finance
Energy prices
Energy supplies
Energy transportation
Excess profits tax
Excise tax
Export controls
Federal advisory bodies
Fines (Penalties)
Foreign Trade and International Finance
Free trade
Fuel consumption
Gasoline
Government Operations and Politics
Government procurement
Government trust funds
Government vehicles
Heating
Income tax
Injunctions
International Affairs
International agencies
Inventories
Labor and Employment
Labor contracts
Law
OPEC countries
Petroleum
Petroleum engineering
Petroleum industry
Petroleum refineries
Petroleum reserves
Presidential powers
Price fixing
Price regulation
Public Lands and Natural Resources
Restrictive trade practices
Retail trade
Service stations
Standards
Strategic materials
Tax credits
Tax rates
Tax refunds
Taxation
Trade agreements
Transportation and Public Works
Trucking
Trucks
Wholesale trade

Summary:
action_date: 2005-07-28
text: 
Gasoline Price Stabilization Act of 2005 - Sets forth circumstances under which the President may issue orders and regulations to stabilize prices for wholesale and retail gasoline to levels at or below levels prevailing on March 1, 2004.
 
Amends the Energy Policy and Conservation Act to include, among prerequisites to a drawdown and sale from the Strategic Petroleum Reserve, a presidential determination that a severe price increase resulting from an emergency situation is likely to cause a major adverse impact upon a state or regional economy.
 
Expands the scope of &quot;severe energy supply interruption&quot; to encompass a reduction in supply that is substantially caused by conduct that lessens competition (or tends to create a monopoly) by: (1) at least one foreign country or international entity; or (2) at least one producer, refiner, or marketer of petroleum products.
 
Directs the Secretary of Energy to establish mandatory minimum inventory levels of crude oil and petroleum products in order to limit the impact of unexpected supply disruptions on wholesale and retail prices.
 
Amends the Mineral Leasing Act to repeal the authorization to export Alaskan North slope oil.
 
Amends the Internal Revenue Code to: (1) impose an excise tax on the sale in the United States of any crude oil, gasoline, or other taxable product equal to the applicable percentage of the windfall profit on such sale; and (2) allow a tax credit for the cost of any qualified passenger vehicle purchased by the taxpayer during the taxable year.
 
Amends the Clayton Act to: (1) prohibit certain oil industry mergers; and (2) place a moratorium upon large petroleum and crude oil mergers.
 
Amends federal transportation law to increase the average fuel economy standards for passenger automobiles and light trucks.
 
Requires federal agency heads to manage vehicle procurement in a manner that results in specified increases in the average fuel economy of the federal fleet of vehicles.


Legislative actions:
action_date: 2005-08-08
text: Referred to the Subcommittee on Energy and Mineral Resources.
action_date: 2005-08-05
text: Referred to the Subcommittee on Energy and Air Quality.
action_date: 2005-07-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-07-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-07-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-07-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-07-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-07-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-07-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Government Reform, the Judiciary, Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-07-28
text: Introduced in House
action_date: 2005-07-28
text: Introduced in House