Petroleum Reserves and Import Policy Act

[AI summary unavailable — showing source text] Petroleum Reserves and Import Policy Act - Title I: General Provisions - Provides that authority under this Act shall be exercised over the establishment and management of reserve producing and storage capacity for, and over any and all imports of, liquid and gaseous fuels, whether crude or processed. Creates a Petroleum Reserve and Import Policy Committee. Sets forth the membership of such Committee. Provides that there shall be a Petroleum Reserves and Imports Administration in the Department of the Interior, which shall be headed by an Administrator appointed by the President with the advice and consent of the Senate, and which shall implement the decisions of the Committee and the provisions of this Act. Requires every importer, refiner, transporter, distributor, or marketer of fuels subject to the provisions of this Act to prepare such accounts, records of cost-accounting procedures, correspondence, memorandums, papers, books, and other records as the Secretary of the Interior may by rule and regulation prescribe as necessary or appropriate for purposes of the administration of this Act. Provides that the Committee shall prepare, have printed, and transmit to the Congress an a…