Standby Petroleum Emergency Authority Act of 1981

(Measure passed House, amended, roll call #362 (244-136))

Standby Petroleum Emergency Authority Act of 1981 - Title I: Standby Petroleum Allocation and Price Control Authority - Amends the Energy Policy and Conservation Act to authorize the President to provide by regulation for the mandatory allocation of any petroleum product. Permits such regulations to be either mandatory emergency regulations effective upon promulgation or standby contingency regulations effective upon certain circumstances. Directs the President to: (1) promulgate an emergency preparedness plan consisting of standby contingency regulations and to transmit the plan to Congress; and (2) analyze and report to Congress comparing the economic and consumer impacts of reliance on a free market or on an emergency preparedness plan.

Prohibits the President from: (1) prescribing minimum prices; (2) imposing any tax; (3) allocating gasoline or diesel fuel to end users through any system involving the issuance of ration coupons; or (4) allocating consumer petroleum inventories, restricting the use of such inventories, or taking into account the size of such inventories in determining the amount of petroleum products to be allocated to consumers.

Directs the President to collect information on the pricing, supply, and distribution of petroleum products at the wholesale and retail levels, on a State-by-State basis.

Permits implementation of mandatory allocation regulations only if: (1) the President determines there is a severe petroleum supply interruption; and (2) the President transmits the regulations to Congress and Congress does not disapprove the regulations. Limits the duration of such regulations to 90 days, except that there they may be a 60-day extension. Provides that after the 60-day extension the President must make a new determination of a severe petroleum supply disruption and transmit a new notice to Congress.

Provides for the preemption of any conflicting State or local program for the allocation or pricing of any petroleum product. Authorizes the President to exempt from preemption certain classes of State laws or regulations if: (1) a significant State interest would be preserved; (2) interstate commerce would not be burdened; and (3) the achievement of the purposes of this Act would not be impeded. Exempts State set-aside program preemption if a State program: (1) is necessary to prevent the impairment of essential activities; (2) is of limited duration; and (3) does not require any State prime supplier to set aside more than five percent of the supplier's monthly supply to the State.

Permits as a defense to any action for breach of contract relating to any petroleum product that the breach was caused by compliance with this Act.

Directs the President to include a standby refinery crude-sharing plan in the emergency preparedness plan. Requires the crude-sharing plan to: (1) fairly distribute the burdens of any international allocation of petroleum products by United States corporations to foreign countries participating with the United States in the International Energy Program; (2) aid in the equitable distribution of oil to U.S. refineries; (3) encourage refineries to maintain inventories; (4) help avoid more comprehensive petroleum product price and allocation controls; and (5) provide for the allocation among refineries in amounts and at prices specified in the plan. Requires the crude-sharing plan to be implemented in the same manner in which the regulations of the emergency preparedness plan are implemented.

Authorizes the President to delegate any authority under this Act to Federal agencies or to any State, except the authority to determine that a severe petroleum supply disruption exists.

Sets the expiration date of this Act at December 31, 1984.

Amends the Energy Policy and Conservation Act to direct the President to submit a Distribution Plan (for the drawdown and distribution of the Strategic Petroleum Reserve) as an amendment to the Strategic Petroleum Reserve Plan. Prohibits implementation of the Distribution Plan previously in effect. Prohibits the drawdown and distribution of the Reserve unless the Secretary of Energy transmits the President's finding to Congress that the Distribution Plan is required and neither House of Congress disapproves the finding.

Title II: Extension of Certain International Energy Program Authorities - Extends until June 30, 1985, presidential authorities with respect to the International Energy Program.