Oil Import Purchase Authority Act of 1981

Summary

Oil Import Purchase Authority Act of 1981 - Makes the Secretary of Energy responsible for the importation of petroleum into the United States. Provides that after October 1, 1981, no petroleum shall be imported except pursuant to a bid submitted to and accepted by the Secretary. Imposes civil and criminal penalties on persons who import petroleum in violation of this Act. Directs the Secretary to promulgate regulations for allocation by sale of all imported petroleum at prices not to vary more than ten percent above or below the cost of acquisition, taking into account the preservation of an economically sound and competitive petroleum industry and other factors. Repeals the President's emergency authority to exercise the exclusive right to import and purchase petroleum under the Emergency Petroleum Allocation Act of 1973.

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Timeline

1. 7 May 1981

   Introduced

   Referred to House Committee on Energy and Commerce.

   Source: IntroReferral

2. 7 May 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 May 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 11 May 1981

   Referred

   Referred to Subcommittee on Fossil and Synthetic Fuels.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 7 May 1981

  Open at official source

Sponsors

• Rep. Bingham, Jonathan B. [D-NY-22] · D · Sponsor
• · hswm00 · Standing
• · hsif00 · Standing

Related records

• related to → Oil Import Purchase Authority Act of 1981