Crude Oil Retention Act of 1986

[AI summary unavailable — showing source text] Crude Oil Retention Act of 1986 - Reaffirms the intent of the Congress that the Strategic Petroleum Reserve be filled to a minimum level of 750,000,000 barrels. Amends the Energy Policy and Conservation Act to direct the Secretary of Energy to provide that such Reserve will be filled only with certain crude oil produced in the United States from specified stripper well property at an annual minimum average daily rate of 300,000 barrels. Prescribes a minimum $15 fee to be paid by the Secretary for each such crude oil barrel. Authorizes State discretion in the use of funds received as a result of any judicial proceeding involving petroleum pricing violations. Expresses the sense of the Congress that: (1) the Congress will not approve any tax reform legislation reducing the benefits from the deductions for percentage depletion and intangible drilling and development costs for oil and gas wells; and (2) only those excise taxes shall be deposited into the Hazardous Substance Response Trust Fund which were so used before September 30, 1985. Amends the Tariff Schedules of the United States to increase certain duties on petroleum and petroleum products. Establishes the Supplemental Deficit…