Published July 12, 2008 05:15 am - Bill would ask the U.S. government to tap into an oil reserve that has never been used in order to help the Northeast lower costs for consumers this winter.
McHugh wants to change heating-fuel rules
WASHINGTON -- A bill introduced by U.S. Rep. John McHugh would revise when fuel can be released from the Northeast Home Heating Oil Reserve.
"This bill would reform the rules for use of the reserve so in situations such as when public safety is threatened because of the high prices or when the cost exceeds $4 per gallon, the reserve can be released," said McHugh in a news release.
The Pierrepont Manor Republican supports the bi-partisan legislation that would also allow reserve heating oil to be released if the president determined that high prices were a threat to public safety and health.
Heating-oil prices are expected to be 15 percent higher than last winter.
The Northeast Home Heating Oil Reserve was created in 2000 in response to interruptions in heating-oil supply.
It serves New York, New Jersey, Pennsylvania and the New England states where 69 percent of the households use heating oil.
McHugh said the reserve has never been tapped "due to the stringent rules that regulate its use."
The congressman is also sponsoring legislation to give a $500 tax credit to individuals and families who face home-heating bills of $1,500 or more this winter.
He is also calling for President George W. Bush to increase HEAP funding by freeing up $120 million sitting in the program's contingency fund.
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