Section 1 Short title
This Act may be cited as the “Crude by Rail Volatility Standard Act”.
Crude by Rail Volatility Standard Act
A BILL
To prohibit transportation by rail of crude oil with a Ried vapor pressure of more than 9.5 pounds per square inch, and for other purposes.
Sec. 2 National standard for maximum crude oil volatility
In general— Crude oil may only be transported by rail if the oil has a Reid vapor pressure of not more than 9.5 pounds per square inch, the maximum volatility set by the New York Mercantile Exchange for crude oil futures contracts.
Application— Subsection (a) shall apply to the transportation of crude oil occurring on and after the date that is 90 days after the date of enactment of this Act.
Crude oil volatility standard— Not later than 1 year after the date of the enactment of this Act, the Administrator of the Pipeline and Hazardous Materials Safety Administration shall issue a final rule based on the advanced notice of proposed rulemaking titled “Hazardous Materials: Volatility of Unrefined Petroleum Products and Class 3 Materials” and published in the Federal Register on January 18, 2017 (82 Fed. Reg. 5499).