Emergency Petroleum Allocation Act

[AI summary unavailable — showing source text] Emergency Petroleum Allocation Act - States that the purpose of this Act is to grant to the President of the United States temporary authority to deal with a national energy crisis involving extraordinary shortages of crude oil and petroleum products or dislocations in their national distribution system. Requires the President to take such actions as are necessary to insure the attainment of the following specific objectives: (1) protection of public health, safety, and welfare, and the national defense; (2) maintenance of all public services; (3) maintenance of all essential agricultural operations including farming, ranching, dairy and fishing activities and services directly related to the cultivation, production, and preservation of food; (4) preservation of an economically sound and competitive petroleum industry, including the competitive viability of the independent producing, refining, marketing, distributing, and petrochemical sectors of that industry; (5) equitable distribution of fuels at equitable prices among all regions and areas of the United States and all classes of consumers; (6) economic efficiency; and (7) minimization of economic distortion, inflexibility, and …