§13552 — Title 42 The Public Health and Welfare | U.S. Code

Summary

The Secretary must study whether using energy futures and options can help protect government buyers (including military fuel purchases and the Strategic Petroleum Reserve) and groups that buy fuel in bulk from sudden price spikes. The study must also look at how to teach those buyers to use futures and options wisely so they can buy fuel more effectively and reduce costs. Within 30 days after the study is sent, the Secretary must start a pilot program to train those government bodies and cooperatives in smart, cost-saving use of futures and options. Congress may provide whatever money is needed to carry out the study and pilot.

Title 42, §13552

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

(a)The Secretary shall conduct a study—

(1)to ascertain if the use of energy futures and options contracts could provide cost-effective protection for Government entities (including Government purchases for military purposes and for the Strategic Petroleum Reserve) and consumer cooperatives (or any organization whose purpose is to purchase fuel in bulk) from unanticipated surges in the price of fuel; and

(2)to ascertain how such Government entities or consumer cooperatives may be educated in the prudent use of energy futures and options contracts to maximize their purchasing effectiveness, protect themselves against unanticipated surges in the price of fuel, and minimize fuel costs.

(b)The Secretary shall conduct a pilot program, commencing not later than 30 days after the transmission of the study required in subsection (b),11 See References in Text note below. to educate such governmental entities, consumer cooperatives, or other organizations on the prudent and cost-effective use of energy futures and options contracts to increase their protection against unanticipated surges in the price of fuel and thereby increase the efficiency of their fuel purchase or assistance programs.

(c)There are authorized to be appropriated such sums as may be necessary to carry out this section.

Notes & Related Subsidiaries

Editorial Notes

References in Text

Subsection (b), referred to in subsec. (b), was repealed and subsec. (c) of this section was redesignated (b) by Pub. L. 105–362, title IV, § 401(f), Nov. 10, 1998, 112 Stat. 3282. See 1998 Amendment note below.

Amendments

1998—Subsecs. (b) to (d). Pub. L. 105–362 redesignated subsecs. (c) and (d) as (b) and (c), respectively, and struck out heading and text of former subsec. (b). Text read as follows: “The Secretary, no later than 12 months after October 24, 1992, shall transmit the study required in this section to the Committee on Energy and Commerce of the House of Representatives and the Committee on Energy and Natural Resources of the Senate.”

§13552 Use of Energy Futures for Fuel Purchases