A bill to amend the Internal Revenue Code of 1954 to impose a tax of $10 a barrel on imported crude oil and a comparable rate of tax on imported petroleum products.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to impose an excise tax on petroleum products imported into the United States for consumption, use, or warehousing. Sets the amount of such tax at: (1) $10 per barrel for crude oil; and (2) an amount dependent on the Btu content of petroleum products other than crude oil.…