Strategic Petroleum Corporation Charter Act

[AI summary unavailable — showing source text] Strategic Petroleum Corporation Charter Act - Amends the Energy and Conservation Act to establish within the Department of Energy the Strategic Petroleum Corporation for the purpose of creating another means of obtaining reserves of petroleum. Provides that the Corporation shall be administered by a Board of Directors. Directs the Corporation to seek to increase exports to a foreign nation, when such nation is adversely affected by financial problems which make it difficult for such nation or importers within such nation to make payment for U.S. exports, through arrangements whereby such nation or importers within such nation can provide petroleum as security to assure payment for such U.S. exports. Permits the Corporation to accept petroleum as security, and to issue a negotiable warehouse receipt for such security, which is provided to ensure repayment of financing provided or guaranteed by the Commodity Credit Corporation, the Central Bank for Cooperatives, the Export-Import Bank, or any private financing institution with respect to the export of products and commodities produced in the United States. Requires the petroleum to be stored in the United States. Requires the Corpora…