Bakken Crude Stabilization Act of 2015

Bill: 114-hr-1679
Sponsor: full_name: Rep. Garamendi, John [D-CA-3]
Introduced: 2015-03-26
Policy area: Transportation and Public Works
Subjects: Oil and gas

Railroads

Transportation safety and security
Latest action: action_date: 2015-03-27
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Summaries:
action_date: 2015-03-26
action_desc: Introduced in House
text: <p><b>Bakken Crude Stabilization Act of 2015</b></p> <p>This bill authorizes Bakken crude oil to be transported by rail only if it has a Reid vapor pressure of not more than 9.5 pounds per square inch (the maximum volatility set by the New York Mercantile Exchange for crude oil futures contracts).</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1679 IN THE HOUSE OF REPRESENTATIVES March 26, 2015 Mr. Garamendi introduced the following bill; which was referred to the Committee on Transportation and Infrastructure A BILL To ensure the safe transportation of Bakken crude oil by rail, and for other purposes.

1. Short title This Act may be cited as the Bakken Crude Stabilization Act of 2015 . 2. Bakken crude oil (a) In general Bakken crude oil may only be transported by rail if the oil has a Reid vapor pressure of not more than 9.5 pounds per square inch, the maximum volatility set by the New York Mercantile Exchange for crude oil futures contracts. (b) Application Subsection (a) shall apply to the transportation of Bakken crude oil occurring on and after the date that is 90 days after the date of enactment of this Act. (c) Actions by the Secretary The Secretary of Transportation is authorized to take such action as is necessary to implement this section.