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A BILL TO BE ENTITLED
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AN ACT
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relating to a study by the Railroad Commission of Texas regarding |
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the creation of a strategic gas and petroleum product reserve in |
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this state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. (a) In this Act: |
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(1) "Commission" means the Railroad Commission of |
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Texas. |
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(2) "Gas" means natural gas. |
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(3) "Petroleum product" means any product derived by |
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refining petroleum and intended to produce power by burning the |
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product. |
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(4) "Strategic fuel reserve" means a reserve of gas |
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and petroleum products for distribution in this state for the |
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purpose of reducing, in the event of a disaster or other critical |
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situation, the impact of disruptions in the supply of gas and |
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petroleum products. |
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(b) The commission shall conduct a study to determine: |
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(1) the feasibility of creating, operating, and |
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maintaining a strategic fuel reserve; |
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(2) each appropriate location for strategic fuel |
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reserve facilities; |
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(3) the appropriate role of each state or local entity |
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in operating or regulating the strategic fuel reserve; |
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(4) the necessary minimum capacity for the strategic |
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fuel reserve; |
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(5) the circumstances under which gas or petroleum |
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products maintained as part of the strategic fuel reserve should be |
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distributed; and |
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(6) the estimated cost to implement the strategic fuel |
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reserve, including: |
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(A) the costs, as applicable, of purchasing, |
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leasing, constructing, operating, and maintaining facilities |
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related to the strategic fuel reserve; and |
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(B) the costs and any financial benefit from |
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purchasing and selling oil and gas products as part of the strategic |
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fuel reserve. |
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(c) Not later than September 30, 2026, the commission shall |
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submit to the governor, the lieutenant governor, the speaker of the |
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house of representatives, and each member of the legislature a |
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report on the results of the study and any recommendations for |
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legislative or other action. |
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SECTION 2. This Act expires January 1, 2027. |
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SECTION 3. This Act takes effect September 1, 2025. |