PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Energy and Air Quality.
Congressional Research Service
Version 00 · Introduced in House · Nov 19, 2004
Oil Price Safeguard Act - Amends the Energy Policy and Conservation Act to declare that a severe energy supply interruption, warranting a drawdown from the Strategic Petroleum Reserve (SPR), shall be deemed to exist if the President determines that: (1) there is a significant reduction in the supply of petroleum of significant scope and duration that has caused a significant increase in the price of petroleum products; (2) the price increase is likely to cause a significant adverse impact on the national economy; and (3) a substantial cause of the reduction in supply is the anticompetitive conduct of foreign countries or international entities.
Requires the President to report to certain congressional committees if the price of a barrel of crude oil exceeds $35 for a period greater than 14 days.
People & committees
Rep. Larson, John B. [D-CT-1] · D–CT
Legislative record
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Referred to the Subcommittee on Energy and Air Quality.
Referred to the House Committee on Energy and Commerce.
Sponsor introductory remarks on measure. (CR 11/20/2004 E2110-2111)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 18, 2025. Consult Congress.gov for the current record.
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