42 U.S.C. § 6247b
Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)
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.
42 U.S.C. § 6247b
- Secretary
- The term "Secretary" means the Secretary of Housing and Urban Development.1See References in Text note below.