A bill to stabilize domestic oil prices by creating an independent corporation to buy and sell crude oil and petroleum products.

[AI summary unavailable — showing source text] Creates the Oil Trading Corporation (the Corporation) to: (1) acquire crude oil and petroleum products; (2) acquire storage facilities; (3) use, lease, or dispose of the storage facilities; (4) maintain reserves of crude oil and petroleum products; (5) transport crude oil and petroleum products; and (6) sell crude oil and petroleum products to maximize the stabilization of market forces during times of oil shortages. States that the Corporation shall have perpetual existence unless and until its charter is revoked or modified by Congress. Sets forth provisions relating to: (1) general corporate powers; (2) the Board of Directors; and (3) capitalization. Provides that: (1) the President shall appoint, by and with the advice and consent of the Senate, five members of the Board of Directors, four of whom must be selected from lists submitted by the House and Senate to the President; and (2) four members of the Board shall be elected by the Class B stockholders. States that the capital of the Corporation shall consist of capital subscribed by organizations, foundations, trusts, public bodies, and other public and private bodies, and the United States. Authorizes appropriations for FY 1…