Federal · Title 42 — Public Health and Welfare
42 U.S.C. § 6247b: Purchase of oil from marginal wells
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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 .
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