A bill to authorize appropriations for fiscal year 1981 for conservation, exploration, development and use of the naval petroleum reserves and naval oil shale reserves, and for other purposes.

(Reported to House from the Committee on Interstate and Foreign Commerce with amendment, H. Rept. 96-970 (Part II))

Authorizes appropriations to the Department of Energy for fiscal year 1981 for conservation, exploration, development, and use of the naval petroleum reserves and the naval oil shale reserves.

Directs the Secretary of Energy to study the feasibility and impact of establishing a separate storage program which would be available for meeting the requirements of the Department of Defense for petroleum products. Requires the Secretary to report to Congress upon completion of the study.

Provides for the Secretary of Energy and the Secretary of Defense to jointly review the procurement policies and procedures applicable to the acquisition of petroleum products necessary to satisfy current and future requirements of the Department of Defense. Requires the Secretary of Energy and the Secretary of Defense to report to Congress on that study.