Condensate Act of 2015

Bill: 114-s-1224
Sponsor: full_name: Sen. Murkowski, Lisa [R-AK]
Introduced: 2015-05-06
Policy area: Energy
Subjects: Government information and archives

Oil and gas

Strategic materials and reserves
Latest action: action_date: 2015-05-19
text: Committee on Energy and Natural Resources. Hearings held.

Summaries:
action_date: 2015-05-06
action_desc: Introduced in Senate
text: <p><b>Condensate Act of 2015</b></p> <p>This bill requires the Department of Energy to develop a standard definition of the term &quot;condensate&quot; and, subsequently, advise relevant federal agencies to adopt that definition in order to clarify U.S. energy policy. </p> <p>The Assistant Secretary for Fossil Energy may assess the suitability of condensate separately from crude oil for use in strategic reserves. </p> <p>The Energy Information Administration must collect data concerning the chemical properties of domestically produced condensate and crude oil.</p> <p>The Department of the Interior must assess condensate separately from crude oil.</p> <p>The bill authorizes:</p><ul> <li>the Bureau of Ocean Energy Management to estimate condensate separately from crude oil as part of the resource assessments regarding domestic geological formations, </li> <li>the Office of Natural Resources Revenue Data Collection to collect condensate data separately from crude oil, and </li> <li>the United States Geological Survey to include estimates of condensate separately from crude oil as part of the resource assessments regarding domestic geological formations. </li> </ul> <p> Congress declares that processed condensate is a petroleum product.</p>

tv_txt: II 114th CONGRESS 1st Session S. 1224 IN THE SENATE OF THE UNITED STATES May 6, 2015 Ms. Murkowski introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources A BILL To reconcile differing Federal approaches to condensate.

1. Short title This Act may be cited as the Condensate Act of 2015 . 2. Development of definition of condensate (a) In general The Secretary of Energy (referred to in this Act as the Secretary ) shall— (1) develop a standard definition of the term condensate ; and (2) advise relevant Federal agencies to adopt that definition for the purpose of clarifying energy policy in the United States. (b) Office of Fossil Energy assessment The Assistant Secretary for Fossil Energy may assess the suitability of condensate separately from crude oil for use in strategic reserves, as determined necessary by the Secretary. (c) Energy Information Administration data collection The Administrator of the Energy Information Administration shall collect data regarding the chemical properties of condensate and crude oil produced in the United States. 3. Department of Interior assessments (a) In general The Secretary of the Interior shall direct the appropriate agencies within the Department of the Interior to assess condensate separately from crude oil, in accordance with this section. (b) Office of Natural Resources Revenue data collection The Director of the Office of Natural Resources Revenue may collect data regarding condensate separately from crude oil produced in the United States. (c) Bureau of Ocean Energy Management The Director of the Bureau of Ocean Energy Management may estimate condensate separately from crude oil as part of the resource assessments regarding geological formations in the United States. (d) United States Geological Survey The Director of the United States Geological Survey may include estimates of condensate separately from crude oil as part of the resource assessments regarding geological formations in the United States. 4. Sense of Congress It is the sense of Congress that processed condensate is a petroleum product.