Joint resolution providing for the orderly review of fee-paid oil import licenses;.

States that the Oil Policy Committee and the Office of Oil and Gas, Department of the Interior, shall establish by regulation specified formal procedures for review of applications filed by refiners for fee-paid licenses prior to the issuance of such licenses, including consideration of the quantities and prices of crude oil which such refiners are making and intend to make available to small independent refiners and consideration of the quantities and prices of gasoline, fuel oil, diesel fuel, or kerosene which such refiners are making and intend to make available to independent marketers of such products.

Provides that any fee-paid license issued to a refiner for imports of crude oil, unfinished oils, and finished products into Districts I-IV, District V, and Puerto Rico shall require that refiners supply to small independent refiners and independent marketers crude oil, unfinished oils, and finished products in reasonable quantities and at reasonable prices based on past supply relationships.