Page:United States Statutes at Large Volume 99 Part 1.djvu/125

 PUBLIC LAW 99-58—JULY 2, 1985

99 STAT. 103

required by a severe energy supply interruption or by obligations of the United States under the international energy program.". (b) SUSPENSION OF PROVISIONS RELATING TO THE STRATEGIC PETROLEUM RESERVE.—Section 160(e) of such Act is amended—

42 USC 6240.

(1) by inserting "and" at the end of clause (i) of paragraph (I)(B); (2) by striking out clauses (ii) and (iii) of paragraph (1)(B) and inserting in lieu thereof the following: "(ii) the President has transmitted such finding to the Congress."; (3) by striking out paragraphs (2) and (3) and inserting in lieu thereof the following: "(2) The suspension of the application of subsections (c) and (d) under paragraph (I)(B) may become effective on the day the finding is transmitted to the Congress and shall terminate nine months thereafter or on such earlier date as is specified in such finding."; and (4) by redesignating paragraph (4) as paragraph (3). SEC. 103. STRATEGIC PETROLEUM RESERVE TEST DRAWDOWN AND DISTRIBUTION. (a) DIRECTIVE TO CARRY OUT TEST DRAWDOWN.—Section 161 of the

Energy Policy and Conservation Act is amended by adding the 42 USC 6241. following new subsection at the end thereof: "(g)(l) In order to evaluate the implementation of the Distribution Plan, the Secretary shall, commencing within 180 days after the date of the enactment of this subsection, carry out a test drawdown and distribution under this subsection through the sale or exchange of approximately 1,100,000 barrels of crude oil from the Reserve. The requirement of this paragraph shall not apply if the President determines, within the 180-day period described in the preceding sentence, that implementation of the Distribution Plan is required by a severe energy supply interruption or by obligations of the United States under the international energy program. "(2) The Secretary shall carry out such drawdown and distribution in accordance with the Distribution Plan and implementing regulations and contract provisions, modified as the Secretary considers appropriate taking into consideration the artificialities of a test and the absence of a severe energy supply interruption. To meet the requirements of subsections (d) and (e) of section 159, the Secretary Ante, p. 102. shall transmit any such modification of the Plan, along with explanatory and supporting material, to both Houses of the Congress no later than 15 calendar days prior to the offering of any crude oil for sale under this subsection. "(3) At least part of the crude oil that is sold or exchanged under this subsection shall be sold or exchanged to or with entities that are not part of the Federal Government. "(4) The Secretary may not sell any crude oil under this subsection at a price less than that which the Secretary determines appropriate and, in no event, at a price less than 90 percent of the sales price, as estimated by the Secretary, of comparable crude oil being sold in the same area at the time the Secretary is offering crude oil for sale in such area under this subsection. "(5) The Secretary may cancel any offer to sell or exchange crude oil as part of any drawdown and distribution under this subsection if the Secretary determines that there are insufficient acceptable offers to obtain such crude oil.

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