42 U.S.C. § 13552 — Use of energy futures for fuel purchases
submitted 34 years ago by Pub. L. 102-486 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 199 words · no verdicts yet
The Secretary of Energy had to study whether government agencies and consumer fuel-buying cooperatives could use futures and options contracts to protect against sudden fuel price spikes. The Secretary then had to run a pilot program teaching those groups how to use these contracts wisely. Congress authorized whatever funding was needed.
(a) Fuel study: The Secretary* had to study (1) whether energy futures and options contracts could cost-effectively protect government entities — including military fuel purchases and the Strategic Petroleum Reserve — and consumer cooperatives (or any group that buys fuel in bulk) from sudden fuel price spikes; and (2) how to educate those entities and cooperatives on using futures and options contracts wisely, to buy fuel more effectively, guard against price spikes, and cut fuel costs.
(b) Pilot program: The Secretary had to run a pilot program, starting no later than 30 days after sending Congress the study, to teach these government entities, cooperatives, and other organizations how to use energy futures and options contracts prudently and cost-effectively, to protect against fuel price spikes and make their fuel-purchase or assistance programs more efficient.
(c) Authorization of appropriations: Congress authorized whatever funding was needed to carry out this section.
The Secretary* shall conduct a study—
to ascertain if the use of energy futures and options contracts could provide cost-effective protection for Government entities (including Government purchases for military purposes and for the Strategic Petroleum Reserve) and consumer cooperatives (or any organization whose purpose is to purchase fuel in bulk) from unanticipated surges in the price of fuel; and
to ascertain how such Government entities or consumer cooperatives may be educated in the prudent use of energy futures and options contracts to maximize their purchasing effectiveness, protect themselves against unanticipated surges in the price of fuel, and minimize fuel costs.
The Secretary shall conduct a pilot program, commencing not later than 30 days after the transmission of the study required in subsection (b),1 to educate such governmental entities, consumer cooperatives, or other organizations on the prudent and cost-effective use of energy futures and options contracts to increase their protection against unanticipated surges in the price of fuel and thereby increase the efficiency of their fuel purchase or assistance programs.
There are authorized to be appropriated such sums as may be necessary to carry out this section.
Source credit: (Pub. L. 102–486, title XXX, § 3014, Oct. 24, 1992, 106 Stat. 3128; Pub. L. 105–362, title IV, § 401(f), Nov. 10, 1998, 112 Stat. 3282.)
- 1992Enacted · Pub. L. 102-486 · 106 Stat. 3128
- 1998Amended · Pub. L. 105-362 · 112 Stat. 3282
A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-486 on 1992-10-24.
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