42 U.S.C. § 6247b — Purchase of oil from marginal wells
submitted 26 years ago by Pub. L. 94-163 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 94 words · no verdicts yet
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From amounts authorized under section 6246 of this title, in any case in which the price of oil decreases to an amount less than $15.00 per barrel (an amount equal to the annual average well head price per barrel for all domestic crude oil), adjusted for inflation, the Secretary* may purchase oil from a marginal well at $15.00 per barrel, adjusted for inflation.
The term “marginal well” has the same meaning as the definition of “stripper well property” in section 613A(c)(6)(E) of title 26.
Source credit: (Pub. L. 94–163, title I, § 169, as added Pub. L. 106–469, title III, § 301(a), Nov. 9, 2000, 114 Stat. 2037.)
- 2000Enacted · Pub. L. 94-163 · 114 Stat. 2037
A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-163 on 2000-11-09.
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