Title 42 — The Public Health and Welfare
Part B · Chapter 77 — Energy Conservation
§ 6247b. Purchase of oil from marginal wells
Statutory text
In general
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.
Definition of marginal well
The term “marginal well” has the same meaning as the definition of “stripper well property” in section 613A(c)(6)(E) of title 26.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Energy Policy and Conservation Act
Pub. L. 94–163 title I § 169 · 89 Stat. 871
Enacted · 42 U.S.C. § 6247b
(Pub. L. 94–163, title I, § 169, as added Pub. L. 106–469, title III, § 301(a), Nov. 9, 2000, 114 Stat. 2037.)
Source evidence
Code 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.)
0 of 1 references resolved to an enrolled provision · 1 partial
Credits
(Pub. L. 94–163, title I, § 169, as added Pub. L. 106–469, title III, § 301(a), , 114 Stat. 2037.)