U.S.C. Title 42 - THE PUBLIC HEALTH AND WELFARE 42 U.S.C. United States Code, 2024 Edition Title 42 - THE PUBLIC HEALTH AND WELFARE CHAPTER 77 - ENERGY CONSERVATION SUBCHAPTER I - DOMESTIC SUPPLY AVAILABILITY Part B - Strategic Petroleum Reserve Sec. 6247b - Purchase of oil from marginal wells From the U.S. Government Publishing Office, www.gpo.gov §6247b. Purchase of oil from marginal wells (a) 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. (b) 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. (Pub. L. 94–163, title I, §169, as added Pub. L. 106–469, title III, §301(a), Nov. 9, 2000, 114 Stat. 2037.)
42 U.S.C. § 6247b
§6247b. Purchase of oil from marginal wells
Edition 2024