Tertiary Recovery Incentives Act of 1981

Tertiary Recovery Incentives Act of 1981 - Amends the Emergency Petroleum Allocation Act of 1973 to provide price incentives for increased petroleum production through the use of tertiary recovery processes.

Defines tertiary recovery processes to be those processes which are determined to increase recovery of petroleum over waterflooding techniques.

Specifies the relevant State or Federal agency which will make the determination of whether a qualified tertiary recovery process is being utilized. Makes such determination final without a showing of fraud.

Exempts the first sale of tertiary crude oil from regulation under such Act.

Directs the Administrator of the Economic Regulatory Administration, the United States Geological Survey, and applicable State regulatory agencies to promulgate regulations implementing this Act.