Energy Productivity and Revitalization Act of 1987

Energy Productivity and Revitalization Act of 1987 - Title I: Oil Pipeline Regulatory Reform Act of 1987 - Oil Pipeline Regulatory Reform Act of 1987 - Amends the Department of Energy Organization Act to direct the Attorney General to petition the Secretary of Energy for an adjudication of whether continued regulation of an existing pipeline is in the public interest. Directs the Secretary, upon receipt of such petition, to conduct such adjudication according to prescribed guidelines.

Terminates Federal Energy Regulatory Commission jurisdiction over an existing pipeline that is not the subject of such a petition 120 days after the effective date of this Act, unless a joint resolution is enacted before then directing the Secretary to conduct an adjudication of whether regulation of such pipeline is in the public interest.

Prescribes adjudication guidelines under which the Secretary shall find that regulation of a pipeline is in the public interest only if it is demonstrated that such regulation is necessary to constrain the exercise of substantial market power in a significant portion of the markets in which the pipeline operates.

Terminates Commission regulatory jurisdiction over an existing pipeline if the Secretary finds the regulation over such pipeline is not in the public interest.

Prescribes guidelines under which the Secretary is authorized to conduct an adjudication of whether, as a direct result of changed circumstances, regulation of an existing pipeline not then subject to Commission regulatory jurisdiction is in the public interest.

Declares that new pipelines shall not be subject to Commission regulatory jurisdiction. States that the termination of Commission regulatory jurisdiction does not apply to its jurisdiction over crude oil or refined oil products transported prior to termination. Precludes Commission regulatory jurisdiction from being transferred in any manner to any Federal agency. Declares that the pipeline jurisdiction provisions of this Act do not apply to the Trans-Alaska pipeline.

Confers exclusive, original jurisdiction over any petition for judicial review upon the U.S. Court of Appeals for the District of Columbia Circuit. Precludes from such judicial review any action of the Attorney General under this Act, including adjudication petitions.

Authorizes both the Secretary and the Attorney General to promulgate regulations under this Act.

Retains the applicability of all antitrust laws to pipeline transportation of crude oil or refined oil products.

Title II: Natural Gas Policy Act Amendments - Natural Gas Policy Act Amendments of 1987 - Amends the Natural Gas Policy Act of 1978 to authorize the Federal Energy Regulatory Commission to: (1) allow any pipeline to transport natural gas on behalf of any person; (2) require pipelines to transport gas without discrimination; and (3) require pipelines which receive gas to provide nondiscriminatory transportation services.

Requires the Commission (upon request by any person) to direct an interstate pipeline to provide transportation service, without discrimination, unless such pipeline demonstrates to the Commission that it is incapable of providing such service.

Removes wellhead price controls over all natural gas first sales beginning April 1, 1988. Removes such control for certain gas sales contracts executed after the date of enactment of this Act.

Removes Commission jurisdiction over first sales of natural gas committed or dedicated as of the day before enactment of this Act. Repeals Commission authority to specify the minimum duration of certain natural gas contracts (thus removing all non-price regulation of first sales of natural gas).

Declares that, with respect to ceiling prices of certain natural gas sales, the last price paid for such gas shall be considered a federally established rate for purposes of an area rate clause.

Title III: Repeal of Certain Restrictions on the Use of Natural Gas and Petroleum Use and Pricing - Amends the Powerplant and Industrial Fuel Use Act of 1978 to: (1) repeal the prohibitions against the use by electric powerplants and major fuel-burning installations of petroleum and natural gas as primary energy sources; (2) remove the restrictions placed upon Federal major fuel-burning installations against the use of natural gas and petroleum as primary energy sources; and (3) repeal the guidelines for the emergency use of natural gas or petroleum as a primary energy source by any person operating a peakload powerplant or a major fuel-burning installation.

Revokes the authority of the Secretary of Energy to require any major fuel-burning installation to furnish certain information regarding the use of primary energy sources of fuel.

Amends the Natural Gas Policy Act of 1978 to repeal the natural gas incremental pricing provisions. States that incremental pricing rules promulgated by the Commission shall continue in effect only with respect to the flow-through of costs incurred before enactment of this Act, including any surcharges based on such costs.