; or (2) a circumstance, other than that described in paragraph (1), exists that constitutes a regional supply shortage of significant scope and duration and that action taken under this section would assist directly and significantly in reducing the adverse impact of such shortage. (b) Release of petroleum After consultation with potentially affected parties, the Secretary shall determine procedures governing the release of refined petroleum products from the Reserve. The procedures shall provide that— (1) the Secretary may— (A) sell refined petroleum products from the Reserve through a competitive process; or (B) enter into exchange agreements for the refined petroleum products that results in the Secretary receiving a greater volume of such products as repayment than the volume provided to the acquirer; (2) in all sales or exchanges described in paragraph (1), the Secretary shall receive revenue or its equivalent in refined petroleum products that provides the Department with fair market value; (3) at no time may refined petroleum products be sold or exchanged resulting in a loss of revenue or value to the United States; and (4) the Secretary shall only sell or dispose of refined petroleum products in the Reserve to entities customarily engaged in the sale and distribution of such products. (c) Plan Not later than 60 days after the date of the enactment of this section, the Secretary shall transmit to the President and, if the President approves, to Congress a plan describing— (1) the proposed acquisition of storage and related facilities or storage services for the Reserve, including the potential use of storage facilities not currently in use; (2) the proposed acquisition of refined petroleum products for storage in the Reserve; (3) the anticipated methods of disposition of refined petroleum products from the Reserve; (4) the estimated costs of establishment, maintenance, and operation of the Reserve