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THE WHITE HOUSE

Office of the President

For Immediate Release November 9, 2000

STATEMENT BY THE PRESIDENT

Today, I am pleased to sign the "Energy Act of 2000," which contains a number of measures to strengthen America's energy security that I have repeatedly urged Congress to act on this year. This legislation reauthorizes the operation of the Strategic Petroleum Reserve, a critical line of defense against the threat of energy shortages, and guarantees that a full range of tools will be available to secure America's energy supplies. In addition, this legislation establishes an appropriate trigger for the use of the 2-million barrel Northeast Home Heating Oil Reserve that I directed my Administration to establish earlier this year. This will help provide an insurance policy against supply shortages and price spikes in winters and assist consumers who rely on heating oil to heat their homes. The Act also makes changes in the Weatherization Assistance Program to reduce state costs and better serve low-income Americans.

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