Government Oil Acquisition Financial Accountability and Consumer Relief Act of 2008

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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R BarrassoSponsor

2 cosponsors · 2 R

R Bond RB

R Burr

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Government Oil Acquisition Financial Accountability and Consumer Relief Act of 2008 - Instructs the Secretary of Energy to suspend petroleum acquisition for the Strategic Petroleum Reserve (SPR).

What it does: CRS summary · Introduced in Senate · Apr 28, 2008

Government Oil Acquisition Financial Accountability and Consumer Relief Act of 2008 - Instructs the Secretary of Energy to suspend petroleum acquisition for the Strategic Petroleum Reserve (SPR).

Authorizes the Secretary to resume petroleum acquisition for the SPR not earlier than 30 days after the date on which the Secretary notifies Congress that for the most recent consecutive four-week period: (1) the weighted average price of retail, regular, all formulations gasoline in the United States is $2.50 or less per gallon; or (2) the weighted average price of retail, No. 2 diesel in the United States is $2.75 or less per gallon.

Amends the Energy Policy and Conservation Act to require that acquisitions made for the SPR reflect a steady monthly dollar value of oil.

Instructs the Secretary to include at least 10% heavy crude oil in making any crude oil acquisitions for the SPR.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Government Oil Acquisition Financial Accountability and Consumer Relief Act of 2008

Latest action (Apr 28, 2008): Read twice and referred to the Committee on Energy and Natural Resources.

Policy area: Energy · Origin: Senate · Introduced: Apr 28, 2008

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.