Oil Spill Preparation and Protection Act

Oil Spill Preparation and Protection Act - Amends the Outer Continental Shelf Lands Act to direct the Secretary of the Interior to require, as a condition and term of any exploration plan or any development and production plan, that the applicant submit and implement an oil spill containment and cleanup plan (to be approved by the Secretary and the Administrator of the Environmental Protection Agency [EPA]) capable of handling a worst-case scenario oil spill.

Describes required plan contents.

Allows approval by the Administrator only if the applicant has demonstrated adequate technology, organization, resources, and capacity both to contain and to prevent shoreline contamination by a significant proportion of a worst-case spill, and to provide for long-term cleanup and remediation of the marine and coastal environments.

Authorizes cancellation of a lease (without compensation) upon failure of the lease holder to submit an exploration plan or development and production plan in accordance with this Act or to implement an approved oil spill containment and cleanup plan.