A bill to authorize the President to implement a system of priority allocation of Canadian crude oil to American refiners.

Declares it to be the finding of Congress that the Government of Canada has announced that it intends to reduce crude oil exports to the United States and to eliminate such exports by 1983. States that areas of this country which are heavily dependent on such crude oil will experience severe economic and supply disruptions as a result of the cutoff.

Authorizes the President to issue regulations providing for the mandatory allocation of crude oil imported from Canada to United States refineries on the basis of need.