§6247a — Title 42 The Public Health and Welfare | U.S. Code

Summary

The Secretary of Energy may lease underused Strategic Petroleum Reserve storage to hold petroleum products owned by foreign governments or their agents. Oil stored this way is not part of the Reserve and can be exported from the United States without a U.S. license. The Secretary decides the lease terms. Leases must charge fees that fully pay all U.S. costs, including the share of any replacement facility costs caused by withdrawals. Leases must not reduce the U.S. ability to use the Reserve in an energy emergency or to meet the United States’ obligations under the Agreement on an International Energy Program. Money collected after September 30, 2007 must be used by the Secretary to buy petroleum for the Reserve without additional approval.

Title 42, §6247a

The Public Health and Welfare — Source: USLM XML via OLRC

(a)Notwithstanding any other provision of this subchapter, the Secretary, by lease or otherwise, for any term and under such other conditions as the Secretary considers necessary or appropriate, may store in underutilized Strategic Petroleum Reserve facilities petroleum product 11 So in original. Probably should be “products”. owned by a foreign government or its representative. Petroleum products stored under this section are not part of the Strategic Petroleum Reserve and may be exported without license from the United States.

(b)All agreements entered into pursuant to subsection (a) shall contain provisions providing for fees to fully compensate the United States for all related costs of storage and removals of petroleum products (including the proportionate cost of replacement facilities necessitated as a result of any withdrawals) incurred by the United States on behalf of the foreign government or its representative.

(c)The Secretary shall ensure that agreements to store petroleum products for foreign governments or their representatives do not impair the ability of the United States to withdraw, distribute, or sell petroleum products from the Strategic Petroleum Reserve in response to an energy emergency or to the obligations of the United States under the Agreement on an International Energy Program.

(d)Funds collected through the leasing of Strategic Petroleum Reserve facilities authorized by subsection (a) after September 30, 2007, shall be used by the Secretary of Energy without further appropriation for the purchase of petroleum products for the Strategic Petroleum Reserve.

Editorial Notes

References in Text

This subchapter, referred to in subsec. (a), was in the original “this title”, meaning title I of Pub. L. 94–163, Dec. 22, 1975, 89 Stat. 875, which is classified principally to this subchapter. For complete classification of title I to the Code, see Tables.

§6247a Use of underutilized facilities

Summary

Title 42, §6247a

Notes & Related Subsidiaries

Editorial Notes

References in Text

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