§ 6250b. Conditions for release; plan
(a)
Finding
The Secretary may sell products from the Reserve only upon a finding by the President that there is a severe energy supply interruption. Such a finding may be made only if he determines that—
(b)
Definition
For purposes of this section a “dislocation in the heating oil market” shall be deemed to occur only when—
(1)
The price differential between crude oil, as reflected in an industry daily publication such as “Platt’s Oilgram Price Report” or “Oil Daily” and No. 2 heating oil, as reported in the Energy Information Administration’s retail price data for the Northeast, increases by more than 60 percent over its 5-year rolling average for the months of mid-October through March (considered as a heating season average), and continues for 7 consecutive days; and
(c)
Continuing evaluation
The Secretary shall conduct a continuing evaluation of the residential price data supplied by the Energy Information Administration for the Northeast and data on crude oil prices from published sources.
(d)
Release of petroleum distillate
After consultation with the heating oil industry, the Secretary shall determine procedures governing the release of petroleum distillate from the Reserve. The procedures shall provide that—
(1)
the Secretary may—
(B)
enter into exchange agreements for the petroleum distillate that results [1] in the Secretary receiving a greater volume of petroleum distillate as repayment than the volume provided to the acquirer;
(e)
Plan
Within 45 days of November 9, 2000, the Secretary shall transmit to the President and, if the President approves, to the Congress a plan describing—
(1)
the acquisition of storage and related facilities or storage services for the Reserve, including the potential use of storage facilities not currently in use;
[1] So in original. Probably should be “result”.