Crude Oil Pricing Amendments

Summary

Crude Oil Pricing Amendments - Amends the Emergency Petroleum Allocation Act to establish ceiling prices (or the manner of determining ceiling prices) for both old and new crude oil produced in the United States based on the first sale price of such oil during the month of February 1976. Provides for different classifications of up to three percent of United States produced crude oil, first sale prices higher than the ceiling price, provided such different classifications and such higher first sale prices are justified under specified conditions. Exempts from the provisions of this Act, the first sale price of stripper well crude oil and newly discovered crude oil. Establishes criteria to qualify for such exemption. Defines terms for the purpose of crude oil pricing.

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1 official file

• Introduced in Senate

  summary · EN · 8 September 1977

  Open at official source

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