Press Release

#SubEnergy to Examine Draft Legislation to Modernize the Strategic Petroleum Reserve


07.17.18

WASHINGTON, DC – The Subcommittee on Energy, chaired by Rep. Fred Upton (R-MI), today announced a hearing for Tuesday, July 24, 2018, at 10:15 a.m. in room 2322 of the Rayburn House Office Building. The hearing is entitled, “DOE Modernization: Legislation to Authorize a Pilot Project to Commercialize the Strategic Petroleum Reserve.”

#SubEnergy will examine a discussion draft that seeks to modernize the nation’s Strategic Petroleum Reserve (SPR) by requiring the Secretary of Energy to carry out a pilot program to lease underutilized SPR facilities.

“The Strategic Petroleum Reserve remains a crucial energy security asset, which is why the committee has conducted rigorous oversight and prioritized its modernization,” said #SubEnergy Chairman Upton. “This legislation continues our ongoing efforts to review and modernize the Department of Energy and will help improve our nation’s energy security.”

Background:

In December 2016, the Energy and Commerce Committee requested a Government Accountability Office (GAO) examination of DOE’s management of the SPR and U.S. participation in the International Energy Agency. Read the full letter here.

In November 2017, the Subcommittee on Energy held a hearing examining the federal and state response and recovery efforts from the 2017 hurricane season. Deputy Assistant Secretary for the Office of Petroleum Reserves Robert Corbin testified at the hearing about the SPR and its operational challenges. Read his full testimony here.

Last month, GAO released a report on its examination, recommending that the Department of Energy (DOE) take several steps to modernize the SPR. Read the full report here.

The Majority Memorandum, witness list and testimony, and a live webcast will be posted HERE as they’re made available.

For more information on the committee’s ‘DOE Modernization’ series, click HERE.

###

Press Release