A bill to authorize appropriations for fiscal year 1981 for conservation, exploration, development and use of the naval petroleum reserves and naval oil shale reserves, and for other purposes.

[AI summary unavailable — showing source text] Authorizes appropriations to the Department of Energy for fiscal year 1981 for conservation, exploration, development, and use of the naval petroleum reserves and the naval oil shale reserves. Provides that the United States share of petroleum produced from Naval Petroleum Reserves Numbered One, Two, and Three shall be available, without reimbursement, exclusively to the Department of Defense. Directs the Secretary of Defense to use such petroleum to meet the requirements of the Department of Defense for petroleum products by: (1) direct use of such petroleum; or (2) exchange of such petroleum for petroleum products of substantially equivalent value for the use of the Department of Defense. Provides that amounts received pursuant to any such exchange shall be available to the Department of Defense to purchase petroleum products. Authorizes the abrogation of any contract to sell the U.S. share of such petroleum. Permits the sale of the U.S. share of natural gas for a period of more than one year. Authorizes the Secretary of the Navy to require the purchaser of any of the U.S. share of petroleum to be a supplier of petroleum products to the Department of Defense. Authorizes the Presi…