This Law aims at significantly reducing the economy's dependence on imported refined oil while boosting the use of other energy sources, including natural gas, biofuels and geothermal resources.The Government shall be obliged to provide for energy buffering reserves.The Law mandates the establishment of a National Energy Council, chaired by the president, which will set a national energy policy and oversee development in the energy sector. It will also take action if there is an energy crisis and emergency.The Law also includes incentives for private and state companies involved in the distribution and utilization of renewable energies, including biofuels.