A bill to amend the Internal Revenue Code of 1954 to provide that the windfall profit tax shall not apply to an amount of crude oil equal to the amount of residual fuel oil used in enhanced recovery processes.

Amends the Internal Revenue Code to exempt from the windfall profit tax an amount of crude oil equal to an amount of residual fuel oil used in enhanced recovery processes.

Defines "enhanced recovery process" as any process: (1) for increasing the ultimate total recovery of oil from a reservoir which is designed to modify any property of any fluid in the reservoir or the reservoir rock; or (2) for displacing or controlling the flow rate or flow pattern in the reservoir.