Oil and Gas Leasing Inflation Adjustment Act

[AI summary unavailable — showing source text] Oil and Gas Leasing Inflation Adjustment Act - Amends the Mineral Leasing Act to increase from $2 per acre to $4 per acre the national minimum acceptable bid for oil and gas leases. Increases from $2 per acre to $5 per acre the minimum acceptable bid for a tar sand lease. Increases the annual rental of a lease from $1.50 per acre to $3 per acre for the first through the fifth year of the lease. Increases the annual lease rental from $2 per acre to $4 per acre for each year after such fifth year. Directs the Secretary of the Interior to make a cost-of-living adjustment of such dollar amounts at least once every four years and to publish each one in the Federal Register.…