HR 8989
Buy Low and Sell High Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Buy Low and Sell High Act aims to lower consumer fuel prices by significantly altering the Strategic Petroleum Reserve (SPR) and establishing new petroleum reserves. It creates an Economic Petroleum Reserve to buy oil cheaply and sell it when prices are high, establishes a national network of Strategic Refined Petroleum Product Reserves, increases the capacity of the Northeast Home Heating Oil Reserve, and imposes limits on the export of petroleum products to certain countries and entities. The bill also includes provisions to reduce fuel demand and increase fuel supply, such as incentives for electric vehicle adoption and support for Western Hemisphere refineries.
Sponsors
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Primary sponsor
Frank, Jr. Pallone
Cosponsors
Abigail Davis Spanberger
Ann M. Kuster
Bobby L. Rush
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