A bill to establish a program of loan guarantee to enable independent refiners of crude oil to construct or acquire new or expanded refining facilities in the United States.

[AI summary unavailable — showing source text] Authorizes the Secretary of the Interior to guarantee the repayment of loans made to independent refiners to enable them to construct or acquire new refining facilities or expanded refining facilities in the United States. Defines "independent refiner" for purpose of this Act. States that in order to qualify for such guarantee, an applicant must establish that: (1) the new or expanded refining facilities will increase his refining capacity and will not replace existing refining facilities of another refiner; (2) the new or expanded refining facilities will be capable of producing refined products in proportions commensurate with the national needs; and (3) the applicant has been unable, after reasonable good faith efforts, to obtain assurance of supplies of crude oil sufficient to utilize the full capacity of the new or expanded refining facilities, together with his existing refining facilities (if any).…