Fuel Energy Affordability and Conservation Act

[AI summary unavailable — showing source text] Fuel Energy Affordability and Conservation Act - Title I: Drawdown of Strategic Petroleum Reserve - Amends the Energy Policy and Conservation Act to cite additional circumstances for a presidential determination of when a severe energy supply interruption shall be deemed to exist. Mandates that proceeds from sales of petroleum drawn down pursuant to such determinations be: (1) deposited in the SPR Petroleum Account; and (2) used only for specified purposes. Directs the President to report to certain congressional committees on causes and potential consequences if the price of a barrel of crude oil exceeds $25 for a period greater than 14 days. Title II: Credits for Energy Efficiency Improvements by Homeowners and Small Businesses - Amends the Internal Revenue Code to allow as a tax credit of 20 percent of the expenses (up to $2000) of qualified energy efficiency improvements by: (1) the taxpayer to an existing home; and (2) eligible small businesses to improvements placed in service during the taxable year.…