Domestic Petroleum Supply Act of 1986

Summary

Domestic Petroleum Supply Act of 1986 - Amends the Energy Policy and Conservation Act to direct the Secretary of Energy to purchase domestic crude oil for the Strategic Petroleum Reserve (within a three-year period beginning 30 days after enactment of this Act) from certain stripper well property at an average annual rate of 200,000 barrels a day. Requires the Secretary, during such period, to implement petroleum acquisition transportation and injection activities at a level sufficient to assure a minimum average fill rate of 200,000 barrels per day in addition to any petroleum products acquired to replace withdrawals from the Reserve resulting from test drawdowns and distribution. Requires such petroleum purchases to be: (1) on a competitive bid basis; and (2) at least 75 percent purchased from independent producers.

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1 official file

• Introduced in House

  summary · EN · 22 April 1986

  Open at official source

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