Energy Independence Act

[AI summary unavailable — showing source text] Energy Independence Act - Title I: Naval Petroleum Reserves - Declares it to be the policy of the United States to fully explore and develop the Naval Petroleum and Oil Shale Reserves and to create with the petroleum and revenue produced therefrom a National Strategic Petroleum Reserve capacity. States that such reserves shall be held until needed for the emergency requirements of national security. Provides that such reserve shall consist of not more than 1,300,000,000 barrels of petroleum of which 300,000,000 is for military use and up to 1,000,000,000 barrels is for civilian consumption. Enumerates reserves that come within the Naval Petroleum and Oil Shale Reserves created by this title. Establishes a National Strategic Petroleum Reserve Special Fund and credits into such Fund specified proceeds. Sets forth the purposes for which the Fund shall be available to the President, including the exploration, prospecting, conservation, development, use, operation, and production of the Naval Petroleum and Oil Shale Reserves. Creates under the management of the Secretary of the Navy a National Strategic Petroleum Reserve (military) which shall include a stock of readily deliverable petr…