FEDERAL · 42 U.S.C. · Chapter SUBCHAPTER I—DOMESTIC SUPPLY AVAILABILITY
Purchase of oil from marginal wells
42 U.S.C. § 6247b
This text of 42 U.S.C. § 6247b (Purchase of oil from marginal wells) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
42 U.S.C. § 6247b.
Text
(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.
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History
(Pub. L. 94–163, title I, §169, as added Pub. L. 106–469, title III, §301(a), Nov. 9, 2000, 114 Stat. 2037.)
Editorial Notes
Editorial Notes
Prior Provisions
A prior part C, consisting of section 6251 of this title, was redesignated part E of this subchapter, prior to repeal by Pub. L. 109–58.
Prior Provisions
A prior part C, consisting of section 6251 of this title, was redesignated part E of this subchapter, prior to repeal by Pub. L. 109–58.
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Bluebook (online)
42 U.S.C. § 6247b, Counsel Stack Legal Research, https://law.counselstack.com/usc/42/6247b.