A bill to amend the Internal Revenue Code of 1954 to impose a fee on the importation of crude oil or refined petroleum products.

Amends the Internal Revenue Code to impose an import fee on: (1) the first sale within the United States of any crude oil or any refined petroleum product imported into the United States; and (2) the use within the United States of any crude oil or any refined petroleum product imported into the United States if no such tax has been imposed prior to such use. Exempts from such tax crude oil or refined petroleum products purchased for export.

Sets the rate of such tax for crude oil as the difference between $20 per barrel and the average world price of crude oil per barrel. Sets the rate of such tax for refined petroleum products as $3 plus the crude oil tax.