On the recordMarch 29, 2023
Mr. Chair, I rise in support of my amendment to H.R. 1, the Lower Energy Costs Act. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of division A, add the following: SEC. 10017. USE OF INDEX-BASED PRICING IN ACQUISITION OF PETROLEUM PRODUCTS FOR THE SPR. Section 160(c) of the Energy Policy and Conservation Act (42 U.S.C. 6240(c)) is amended-- (1) by redesignating paragraphs (1) through (6) as clauses (i) through (vi), respectively (and adjusting the margins accordingly); (2) by striking ``The Secretary shall'' and inserting the following: ``(1) In general.--The Secretary shall''; and (3) by striking ``Such procedures shall take into account the need to--'' and inserting the following: ``(2) Inclusions.--Procedures developed under this subsection shall-- ``(A) require acquisition of petroleum products using index-based pricing; and ``(B) take into account the need to--''. The Acting CHAIR. Pursuant to House Resolution 260, the gentleman from Kansas (Mr. Estes) and a Member opposed each will control 5 minutes. The Chair recognizes the gentleman from Kansas.
