42 U.S.C. § 6247b
Purchase of oil from marginal wells
United States · Title 42 — THE PUBLIC HEALTH AND WELFARE · Status: effective
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- Citation
- 42 U.S.C. § 6247b, Purchase of oil from marginal wells, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/480646
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Full text
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.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Energy Policy and Conservation ActHouse: no recorded tallySenate: no recorded tally
- Energy Act of 2000House: no recorded tallySenate: no recorded tally