Page:United States Statutes at Large Volume 122.djvu/902

 12 2 STA T .879PUBLIC LA W 11 0– 2 3 2 —M A Y 19, 2008 PublicLaw1 1 0–23 2 110 thCongres s A n Act Tosu s pendth e acq u i sition o f pet r o l eu m for the S trate g ic P etroleum R eser v e , and for other purposes .Beit e nac te dby t h e S enate and Hous eo fR e pr esentati v es of the U nited States of Am erica in C on g ress assemb l ed ,SECTION1. S H O R T TIT L E. ThisActmaybe cite d as the ‘ ‘ S t r ate g ic P etr ol e u m R eser v e F ill Sus p e n sion and C onsumer Protection Act o f20 0 8’ ’ . SEC. 2 .S U S P ENSION O F PETROLEU MA C Q UISITION FOR STRATE G IC PETROLEUM RESER V E. ( a )INGE NE RAL . —Ex cept as provided in subsection (b) and not w ithstanding any other provision of law , during the period begin - ning on the date of enactment of this Act and ending on D ecember 31, 2008— (1) the Secretary of the Interior shall suspend ac q uisition of petroleum for the Strategic Petroleum Reserve through the royalty-in- k ind program and (2) the Secretary of Energy shall suspend acquisition of petroleum for the Strategic Petroleum Reserve through any acquisition method. (b) RE SUMPTIO N IN CALEN D AR Y EAR 2008.—During the period specified in subsection (a) but not earlier than 30 days after the date on which the President notifies Congress that the President has determined that the weighted average price of petroleum in the U nited States for the most recent 9 0-day period is $75 or less per barrel— (1) the Secretary of the Interior may resume acquisition of petroleum for the Strategic Petroleum Reserve through the royalty-in-kind program; and (2) the Secretary of Energy may resume acquisition of petroleum for the Strategic Petroleum Reserve through any acquisition method. (c) E X ISTIN G CONTRA C TS.— (1) DEPARTMENT O F T H E INTERIOR CONTRACTS.—In the case of any royalty-in-kind oil scheduled to be delivered to the Department of Energy for the Strategic Petroleum Reserve pursuant to a contract entered into by the Secretary of Interior prior to, and in effect on, the date of enactment of this Act, the Secretary of Energy shall accept delivery of such oil. (2) DEPARTMENT OF ENERG Y CONTRACTS.—In the case of any oil scheduled to be delivered to the Strategic Petroleum Reserve pursuant to a contract entered into by the Secretary of Energy prior to, and in effect on, the date of enactment Deadlin e .Pr e s iden t . No ti f i c ation. T i m e p eriod. S trate g ic Petrole u m R eser v e F ill Suspension and C onsumer Protection A ct of 20 0 8 . M a y19, 2008 [H .R. 6 022 ]

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