A bill to amend the Internal Revenue Code of 1954 to impose a tax of $10 a barrel on imported crude oil and a comparable rate of tax on imported petroleum products.

Amends the Internal Revenue Code to impose an excise tax on petroleum products imported into the United States for consumption, use, or warehousing. Sets the amount of such tax at: (1) $10 per barrel for crude oil; and (2) an amount dependent on the Btu content of petroleum products other than crude oil.