(a) Criteria for commencing acquisition. To reduce the potential for negative impacts from market participation, DOE shall review the following factors prior to commencing acquisition of petroleum for the SPR:
(1) The current inventory of the SPR;
(2) The current level of private inventories;
(3) Days of net import protection;
(4) Current price levels for crude oil and related commodities;
(5) The outlook for international and domestic production levels;
(6) Existing or potential disruptions in supply or refining capability;
(7) The level of market volatility;
(8) Futures market price differentials for crude oil and related commodities; and
(9) Any other factor the consideration of which the Secretary deems to be necessary or appropriate.
(b) Review of rate of acquisition. DOE shall review the appropriate rate of oil acquisition each time an open market acquisition has been suspended for more than three months, and every six months in the case of ongoing or suspended royalty-in-kind transfers.
(c) Acquisition through other Federal agencies. DOE may enter into arrangements with another Federal agency for that agency to acquire oil for the SPR on behalf of DOE.
Title 10 published on 2012-01-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.