Page:United States Statutes at Large Volume 94 Part 1.djvu/828

 94 STAT. 778

PUBLIC LAW 96-294—JUNE 30, 1980

Energy Policy and Conservation Act (42 U.S.C. 6231 and 6240(b)(1)), the President shall, within 60 days after the date of the enactment of this Act, promulgate and make effective an amendment to the provisions of the regulation under section 4(a) of the Emergency 15 USC 753. Petroleum Allocation Act of 1973 relating to entitlements, which has the same effect as allocating lower tier crude oil to the Government for storage in the Strategic Petroleum Reserve. Such amendment shall not apply with respect to crude oil purchased after September 30, 1981, for storage in such reserve. (2) The authority provided by this subsection shall be in addition to, and shall not be deemed to limit, any other authority available to the President under the Emergency Petroleum Allocation Act of 1973 or any other law. (3) The President or his delegate may promulgate and make effective rules or orders to implement this subsection without regard to the requirements of section 501 of the Department of Energy 42 USC 7191. Organization Act or any other law or regulation specifying procedural requirements, (b) In addition to the requirement under subsection (a), the President may direct that— (1) all or any portion of Federal royalty oil be placed in storage in the Reserve, (2) all or any portion of Federal royalty oil be exchanged, directly or indirectly, for other crude oil for storage in the Reserve, or (3) all or any portion of the proceeds from the sales of Federal royalty oil be transferred to the account established under subsection (c) for use for the purchase of crude oil for the Reserve, as provided in subsection (c). (c)(1) Any proceeds— (A) from the sale of entitlements received by the Government under the amendment to the regulation made under subsection (a), and (B) to the extent provided in subsection (b), from the sale of Federal royalty oil, shall be deposited in a special account which the Secretary of the Treasury shall establish on the books of the Treasury of the United States. (2)(A) Subject to the provisions of any Act enacted pursuant to 42 USC 7270. section 660 of the Department of Energy Organization Act, such account shall be available (except as provided in subparagraph (B)) for use by the Secretary of Ener^, without fiscal year limitation, for the purchase of crude oil for the Strategic Petroleum Reserve, to the extent provided in advance in appropriation Acts. (B) Amounts in such account attributable to the proceeds from the sale of entitlements under the amendment to the regulation under subsection (a) are hereby appropriated for fiscal year 1981 for acquisition of crude oil for the Strategic Petroleum Reserve pursuant to subsection (a). Definitions. (d) For purposes of this section— (1) the terms "entitlements", "crude oil", and "allocation" shall have the same meaning as those terms have as used in the 15 USC 751 note. Emergency Petroleum Allocation Act of 1973 (and the regulation thereunder); (2) the term "lower tier crude oil" means crude oil which is subject to the price ceiling established under section 212.73 of title 10, Code of Federal Regulations;

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