Domestic Oil Production Policy Act of 1981

Summary

Domestic Oil Production Policy Act of 1981 - Amends the Emergency Petroleum Allocation Act to exempt the first sale of new crude oil and the first sale of market incentive crude oil from price and allocation regulation under such Act. Sets forth provisions for the establishment of a ceiling price on old crude oil. Exempts the first sale of tertiary crude oil from regulation under such Act. Exempts the first sale of: (1) deep stripper well crude oil; (2) stripper well crude oil; (3) high water cut crude oil; and (4) marginal offshore crude oil from regulation. States that to qualify for such exemptions a property must be producing crude oil at a maximum feasible rate throughout a 12- month qualifying period.

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1 official file

• Introduced in House

  summary · EN · 22 January 1981

  Open at official source

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