A bill to authorize and direct the Administrator of the Federal Energy Office to establish an inventory of the total aggregate amount of crude oil, and other petroleum products currently held by certain oil producers, refiners, distributors, and pipeline corporations, and users.

Directs the Administrator of the Federal Energy Office to establish an inventory of the total aggregate amount of crude oil, and other petroleum products currently held by specified oil producers, refiners, distributors, and pipeline corporations, and users. Prescribes penalties for those persons who fail to meet the reporting requirements of this Act.