Watching Government: SPR issues

The US Senate has finally passed a bill reauthorizing the Energy Policy and Conservation Act, the law under which the 571 million bbl US Strategic Petroleum Reserve is operated.The House of Representatives already had approved an extension of the law.Sen. Barbara Boxer (D-Calif.) had delayed EPCA until Sen. Frank Murkowski (R-Alas.) was forced to drop a royalty in-kind amendment.That measure would have continued a pilot program that allows the Department of Interior to accept its royalty share of oil from federal leases, rather than cash payments. Boxer said the program could compromise the new oil royalty reform rule.The bill also sets a trigger mechanism for use of the new 2 million bbl...

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