(a) The set-aside program shall remain in effect for a period of one hundred twenty (120) days from the date the Governor directs the Arkansas Energy Office to implement it, and shall automatically terminate thereafter, unless the Governor:
- (1) Directs that the program should be extended for an additional thirty (30) days because it is still necessary to manage a shortage of petroleum products; or
- (2) Finds that the program is no longer necessary to manage a shortage of petroleum products and directs that the program be terminated prior to the expiration of said one-hundred-twenty-day period.
- (b) The office shall be responsible, in consultation with other state agencies, representatives of the petroleum industry, appropriate legislative committees, and other interested parties, for providing the Governor with timely data on the status of the supply and distribution of petroleum products in this state in order to assist in the decision-making process described in subsection (a) of this section.