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Buy Low and Sell High Act

USA118th CongressHR-432| House 
| Updated: 1/27/2023
Frank Pallone

Frank Pallone

Democratic Representative

New Jersey

Cosponsors (6)
Abigail Davis Spanberger (Democratic)David J. Trone (Democratic)Angie Craig (Democratic)Ann M. Kuster (Democratic)Jason Crow (Democratic)Chellie Pingree (Democratic)

Energy Subcommittee, Energy and Commerce Committee, Oversight and Government Reform Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Buy Low and Sell High Act This bill revises requirements concerning the Strategic Petroleum Reserve (SPR) and sets forth provisions to reduce the demand for petroleum fuel and increase fuel supply. For example, the bill directs the Department of Energy (DOE) to establish within the SPR an Economic Petroleum Reserve of up to 350 million barrels of crude oil. DOE must also establish a national network of Strategic Refined Petroleum Product Reserves to store up to 250 million barrels of gasoline and diesel fuel, which may be sold when there is a severe fuel supply interruption within the district in which the reserve is located. In addition, the bill increases the cap on the amount of barrels of petroleum distillate that may be stored in the Northeast Home Heating Oil Reserve from two million to four million. It also establishes limits on the sale and exportation of petroleum products from such reserves. Further, the bill establishes provisions concerning electrifying the transportation sector, zero-emission vehicles, and a program to increase the amount of crude oil refined in oil refineries in certain countries in the Western Hemisphere.
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Timeline

Bill from Previous Congress

HR 117-8989
Buy Low and Sell High Act
Jan 20, 2023
Introduced in House
Jan 20, 2023
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Oversight and Accountability, 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.
Jan 27, 2023
Referred to the Subcommittee on Energy, Climate and Grid Security.
  • Bill from Previous Congress

    HR 117-8989
    Buy Low and Sell High Act


  • January 20, 2023
    Introduced in House


  • January 20, 2023
    Referred to the Committee on Energy and Commerce, and in addition to the Committee on Oversight and Accountability, 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.


  • January 27, 2023
    Referred to the Subcommittee on Energy, Climate and Grid Security.

Energy

Related Bills

  • HR 118-293: Banning Oil Exports to Foreign Adversaries Act
  • S 118-4020: Banning Oil Exports to Foreign Adversaries Act

Buy Low and Sell High Act

USA118th CongressHR-432| House 
| Updated: 1/27/2023
Buy Low and Sell High Act This bill revises requirements concerning the Strategic Petroleum Reserve (SPR) and sets forth provisions to reduce the demand for petroleum fuel and increase fuel supply. For example, the bill directs the Department of Energy (DOE) to establish within the SPR an Economic Petroleum Reserve of up to 350 million barrels of crude oil. DOE must also establish a national network of Strategic Refined Petroleum Product Reserves to store up to 250 million barrels of gasoline and diesel fuel, which may be sold when there is a severe fuel supply interruption within the district in which the reserve is located. In addition, the bill increases the cap on the amount of barrels of petroleum distillate that may be stored in the Northeast Home Heating Oil Reserve from two million to four million. It also establishes limits on the sale and exportation of petroleum products from such reserves. Further, the bill establishes provisions concerning electrifying the transportation sector, zero-emission vehicles, and a program to increase the amount of crude oil refined in oil refineries in certain countries in the Western Hemisphere.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 117-8989
Buy Low and Sell High Act
Jan 20, 2023
Introduced in House
Jan 20, 2023
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Oversight and Accountability, 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.
Jan 27, 2023
Referred to the Subcommittee on Energy, Climate and Grid Security.
  • Bill from Previous Congress

    HR 117-8989
    Buy Low and Sell High Act


  • January 20, 2023
    Introduced in House


  • January 20, 2023
    Referred to the Committee on Energy and Commerce, and in addition to the Committee on Oversight and Accountability, 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.


  • January 27, 2023
    Referred to the Subcommittee on Energy, Climate and Grid Security.
Frank Pallone

Frank Pallone

Democratic Representative

New Jersey

Cosponsors (6)
Abigail Davis Spanberger (Democratic)David J. Trone (Democratic)Angie Craig (Democratic)Ann M. Kuster (Democratic)Jason Crow (Democratic)Chellie Pingree (Democratic)

Energy Subcommittee, Energy and Commerce Committee, Oversight and Government Reform Committee

Energy

Related Bills

  • HR 118-293: Banning Oil Exports to Foreign Adversaries Act
  • S 118-4020: Banning Oil Exports to Foreign Adversaries Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted