Domestic Oil Production Policy Act of 1979 - Amends the Emergency Petroleum Allocation Act to exempt the first sale of new crude oil, and the first sale of market incentive crude oil, from regulation under such Act. Sets forth provisions for the establishment of a ceiling price on old crude oil.
Exempts the first sale of tertiary crude oil from regulation under such Act. Exempts the first sale of: (1) deep stripper well crude oil; (2) stripper well crude oil; (3) high water cut crude oil; and (4) marginal offshore crude oil from regulation under such Act. Stipulates that to qualify for such exemptions a property must be producing crude oil at a maximum feasible rate throughout a 12-month qualifying period.
Introduced in House
Introduced in House
Referred to House Committee on Interstate and Foreign Commerce.
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