Buy Low and Sell High Act

[AI summary unavailable — showing source text] Buy Low and Sell High Act This bill revises requirements concerning the Strategic Petroleum Reserve (SPR), establishes an Economic Petroleum Reserve, creates a national network of Strategic Refined Petroleum Product Reserves, increases the size of the Northeast Home Heating Oil Reserve, limits the sale and exportation of petroleum products, and sets forth provisions to reduce the demand for petroleum fuel and increase fuel supply. Specifically, the bill directs the Department of Energy (DOE) to establish within the SPR an Economic Petroleum Reserve of up to 350 million barrels of crude oil. DOE may acquire crude oil from domestic producers at low prices and then sell the oil when the prices are high as specified by the bill. DOE must also establish a national network of Strategic Refined Petroleum Product Reserves to store up to 250 million barrels of gasoline and diesel fuel, which may be sold when there is a severe fuel supply interruption within the district in which the reserve is located. In addition, the bill increases the cap on the amount of barrels of petroleum distillate that may be stored in the Northeast Home Heating Oil Reserve from two million to four million. It also…