S 1709 · 95th Congress · Energy

Crude Oil Pricing Reform Act

Introduced 1977-06-16· Sponsored by Sen. Tower, John G. [R-TX]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Energy and Natural Resources.(1977-06-16)

Plain Language Summary

[AI summary unavailable — showing source text] Crude Oil Pricing Reform Act - Amends the Emergency Petroleum Allocation Act to exempt first sale prices of crude oil produced from (1) properties from which crude oil was first produced after May 31, 1977; (2) stripper wells, or deep stripper wells; and (3) tertiary enhanced recovery projects from pricing regulations under such Act. Stipulates that mandatory ceiling prices applicable to first sales of nonexempt crude oil shall be equal to the weighted average first sale price for exempt crude oil.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

2 Republicans
Sen. Hansen, Clifford P. [R-WY]
Sen. Helms, Jesse [R-NC]