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Increase Home Heating Oil Reserve and Restrict Foreign Sales

This act aims to double the national home heating oil reserve, potentially stabilizing prices and availability for citizens. It also prohibits the sale or export of this oil to sanctioned countries, unless it serves U.S. national security interests. These changes could impact energy security and heating costs for households.
Key points
Doubles the Northeast Home Heating Oil Reserve from 2 million to 4 million barrels, potentially improving availability and price stability in the region.
Prohibits the sale or export of released heating oil to sanctioned countries (e.g., China, Russia, Iran), with a waiver possible for U.S. national security interests.
Removes the previous 1 million barrel limit on the reserve, allowing for its expansion as outlined in the new provisions.
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Additional Information
Print number: 117_HR_9008
Sponsor: Rep. Kuster, Ann M. [D-NH-2]
Process start date: 2022-09-28