Energy Independence Act of 1986

[AI summary unavailable — showing source text] Energy Independence Act of 1986 - Amends the Internal Revenue Code to impose an excise tax on: (1) the first sale within the United States of any crude oil or any petroleum product imported into the United States; and (2) the use within the United States of any crude oil or any petroleum product imported into the United States if no such tax has been imposed prior to such use. Sets a fluctuating rate for such tax dependent upon the world price of crude oil.…