Standby Petroleum Authorities Act of 1981

Standby Petroleum Authorities Act of 1981 - Title I: Standby Petroleum Price and Allocation Authority - Directs the President to promulgate a standby regulation, which will be effective for a limited period and which shall be implemented whenever the President determines that a severe petroleum supply interruption exists or is imminent, providing for the allocation and setting of ceiling prices for crude oil and refined petroleum products. Terminates provisions of this title on October 1, 1989.

Title II: Crude Oil Access - Directs the Secretary of Energy to establish a standby program, to be implemented if the President determines that an interruption in petroleum supplies exists or is imminent, which provides access by qualified refiners to crude oil.

Permits the implementation of the standby program with respect to a qualified refiner when: (1) the refiner provides essential products; (2) the refiner is unable to acquire crude oil at reasonable prices; and (3) the percentage refining capacity of the refiner, because of an inability to obtain reasonably priced crude, is significantly below the national average for at least 90 days.

Directs the Secretary to establish standards used to designate a refiner as qualified.

Requires a refiner-seller, under the standby program, to sell crude oil to a qualified refiner. Sets forth provisions governing such sales.

Terminates the provisions of this title on October 1, 1985.

Title III: Investigations and Report - Directs the Secretary of Commerce, in consultation with the Secretary and the Secretary of Defense, to determine the effect on national security of importing refined petroleum products and to transmit the report to the President.