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United States · Bill · HR

H.R. 1851 (97th)

Oil Imports Act of 1981

referredUnited States· United States Congress· EN

Introduced

17 February 1981

Last action

23 February 1981 · Referred

Status

Referred to Subcommittee on Trade.

Sponsors

Rep. Conyers, John, Jr. [D-MI-13], Rep. Rosenthal, Benjamin S. [D-NY-8], Rep. Rose, Charlie [D-NC-7], Rep. Bedell, Berkley W. [D-IA-6], Rep. Bonior, David E. [D-MI-10], Rep. Brown, George E., Jr. [D-CA-42], Rep. D'Amours, Norman E. [D-NH-1], Rep. Danielson, George E. [D-CA-30], Rep. Ferraro, Geraldine A. [D-NY-9], Rep. Ford, William D. [D-MI-13], Rep. Gray, William H., III [D-PA-2], Rep. Kildee, Dale E. [D-MI-5], Rep. LaFalce, John J. [D-NY-29], Rep. Scheuer, James H. [D-NY-8], Rep. Solarz, Stephen J. [D-NY-13], Rep. Stokes, Louis [D-OH-11], Rep. Vento, Bruce F. [D-MN-4], Rep. Washington, Harold [D-IL-1], Rep. Waxman, Henry A. [D-CA-33], Rep. Weaver, James H. [D-OR-4], Rep. Weiss, Ted [D-NY-17], Rep. Wolpe, Howard E. [D-MI-3], Rep. Yates, Sidney R. [D-IL-9], Rep. Savage, Gus [D-IL-2]

Subjects

Energy

Source updated

29 August 2025

Energy

Official sourceView documentsShare

Summary

Oil Imports Act of 1981 - Title I: Oil Importation - Prohibits the importation of crude oil or other petroleum products into the United States unless permitted by, purchased by, or manufactured from crude oil purchased by the American Oil Import Corporation, established under this Act. Sets forth requirements for issuing import permits for the importation of crude oil and petroleum products. Directs the Corporation to issue permits for such imports to insure access by the U.S. Armed Forces in cases of national emergency. Requires that crude oil and petroleum products for the Strategic Petroleum Reserve be purchased from the Corporation. Grants to the Corporation exclusive purchasing and selling authority for crude oil and petroleum product imports, and sets forth requirements regarding such authority. Title II: American Oil Import Corporation - Establishes a nonprofit corporation to be known as the American Oil Import Corporation, managed by a Board of Directors appointed by the President. Establishes an Advisory Board to the Corporation, composed of officers of specified Federal agencies and departments, which shall meet periodically with the Directors to share information. Sets forth the powers and duties of the Corporation and confers upon the Corporation nonprofit status. Establishes a Public Energy Fund in the Treasury into which shall be deposited revenues from activities of the Corporation. Provides that such funds, including appropriated funds as authorized by the Congress, shall be used by the Corporation for carrying out this Act. Sets forth specified reporting, recordkeeping, and auditing requirements for the Corporation. Title III: Miscellaneous Provisions - Makes it a crime for any officer, employee, or person acting for or on behalf of the United States or any department or agency thereof to prematurely disclose information concerning crude oil or petroleum products required to be withheld from publication until a fixed time or to speculate directly or indirectly in any such product by buying or selling the same in quantity before such information is made public through regular official channels. Repeals the standby purchase authority of the President under the Emergency Petroleum Allocation Act of 1973.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 17 February 1981

    Introduced

    Referred to House Committee on Energy and Commerce.

    Source: IntroReferral

  2. 17 February 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 17 February 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 23 February 1981

    Referred

    Referred to Subcommittee on Fossil and Synthetic Fuels.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Sponsors

Related records

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Sources

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