42 U.S.C. § 6247
The Secretary of the Treasury shall establish in the Treasury of the United States an account to be known as the "SPR Petroleum Account" (hereinafter in this section referred to as the "Account").
Amounts in the Account may be obligated by the Secretary of Energy for the acquisition, transportation, and injection of petroleum products into the Strategic Petroleum Reserve, for test sales of petroleum products from the Reserve, and for the drawdown, sale, and delivery of petroleum products from the Reserve-
Funds available to the Secretary of Energy for obligation under this subsection may remain available without fiscal year limitation.
The Secretary of the Treasury shall provide and deposit into the Account such sums as may be necessary to meet obligations of the Secretary of Energy under subsection (b).
The Account, the deposits and withdrawals from the Account, and the transactions, receipts, obligations, outlays associated with such deposits and withdrawals (including petroleum product purchases and related transactions), and receipts to the United States from the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 6241 of this title, including a drawdown and distribution carried out under subsection (g) of such section, and from the sale of petroleum products under section 6240(f) of this title-
42 U.S.C. § 6247
EDITORIAL NOTES
REFERENCES IN TEXT Public Law 93-344 as amended, referred to in subsec. (d)(2), is Pub. L. 93-344, July 12, 1974, 88 Stat. 297, as amended, known as the Congressional Budget and Impoundment Control Act of 1974. Title III of that Act is classified generally to subchapter I (§631 et seq.) of chapter 17A of Title 2, The Congress. For complete classification of this Act to the Code, see Short Title note set out under section 621 of Title 2 and Tables.
AMENDMENTS2000-Subsec. (b). Pub. L. 106-469, §103(19)(A)(i), substituted "for test sales of petroleum products from the Reserve, and for the drawdown, sale," for "and the drawdown" in introductory provisions. Subsec. (b)(1). Pub. L. 106-469, §103(19)(A)(ii), struck out par. (1) which read as follows: "in the case of fiscal year 1982, in an aggregate amount, not to exceed $3,900,000,000, as may be provided in advance in appropriation Acts;".Subsec. (b)(2). Pub. L. 106-469, §103(19)(A)(iii), struck out "after fiscal year 1982" after "any fiscal year".Subsec. (e). Pub. L. 106-469, §103(19)(B), struck out subsec. (e) which read as follows:"(1) Except as provided in paragraph (2), nothing in this part shall be construed to limit the Account from being used to meet expenses relating to interim storage facilities for the storage of petroleum products for the Strategic Petroleum Reserve. "(2) In any fiscal year, amounts in the Account may not be obligated for expenses relating to interim storage facilities in excess of 10 percent of the total amounts in the Account obligated in such fiscal year. If the amount obligated in any fiscal year for interim storage expenses is less than the amount of the 10-percent limit under the preceding sentence for that fiscal year, then the amount of the 10-percent limit applicable in the following fiscal year shall be increased by the amount by which the limit exceeded the amount obligated for such expenses." 1992-Subsec. (d). Pub. L. 102-486 substituted "under subsection (g)" for "subsection (g)". 1990-Subsec. (b)(3). Pub. L. 101-383, §5(b)(1), inserted before period at end ",or from the sale of petroleum products under section 6240(f) of this title".Subsec. (d). Pub. L. 101-383, §5(b)(2), inserted ",and from the sale of petroleum products under section 6240(f) of this title" after "subsection (g) of such section". 1985-Subsec. (b)(3). Pub. L. 99-58, §103(b)(3), inserted ",including a drawdown and distribution carried out under subsection (g) of such section" after "section 6241 of this title".Subsec. (d). Pub. L. 99-58, §103(b)(4), inserted ",including a drawdown and distribution carried out subsection (g) of such section" after "section 6241 of this title" in provisions preceding par. (1). 1982-Subsec. (e). Pub. L. 97-229 added subsec. (e).
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection effective Aug. 13, 1981, see section 1038 of Pub. L. 97-35 set out as an Effective Date of 1981 Amendment note under section 6240 of this title.
TRANSFER OF FUNDS TO SPR PETROLEUM ACCOUNT FOR DRAWDOWN AND SALE OPERATIONS Pub. L. 106-113, div. B, §1000(a)(3) [title II], Nov. 29, 1999, 113 Stat. 1535, 1501A-180, provided in part: "That the Secretary of Energy hereafter may transfer to the SPR Petroleum Account such funds as may be necessary to carry out drawdown and sale operations of the Strategic Petroleum Reserve initiated under section 161 of the Energy Policy and Conservation Act (42 U.S.C. 6241) from any funds available to the Department of Energy under this or any other Act: Provided further, That all funds transferred pursuant to this authority must be replenished as promptly as possible from oil sale receipts pursuant to the drawdown and sale."
ACQUISITION, TRANSPORTATION, AND INJECTION OF PETROLEUM PRODUCTS FOR SPR; APPLICABILITY OF SUBSEC. (D)Pub. L. 97-35, title X, §1034(c), Aug. 13, 1981, 95 Stat. 620, provided that: "The provisions of section 167(d) of such Act, as added by subsection (a) of this section [subsec. (d) of this section], shall apply with respect to the outlays associated with unexpended balances of appropriations made available and obligated as of the end of fiscal year 1981 for the acquisition, transportation, and injection of petroleum products for the Strategic Petroleum Reserve to the same extent and manner as such provisions apply with respect to withdrawals from the SPR Petroleum Account."
- Secretary
- The term "Secretary" means the Secretary of Housing and Urban Development.1See References in Text note below.
- petroleum product
- The term "petroleum product" means crude oil, residual fuel oil, or any refined petroleum product (including any natural liquid and any natural gas liquid product).