PUBLIC LAW 102-486—OCT. 24, 1992 106 STAT. 2995 graph (2), the Secretary may set such terms and conditions as he deems necessary for such acquisition. "(2) Crude oil purchased by the Secretary pursuant to this subsection shall be by competitive bid. The price paid by the Secretary— "(A) shall take into account the cost of production including costs of reservoir and well maintenance; and "(B) shall not exceed the price that would have been paid if the Secretary had acquired petroleum products of a similar quality on the open market under competitive bid procedures without regard to the source of the petroleum products.". (b) TECHNICAL CORRECTIONS.—Part B of title I of such Act is amended— (1) in section 167(d), in the matter preceding paragraph 42 USC 6247. (1), by striking "subsection (g)" and inserting "under subsection (g)"; and (2) in section 160(d)(2>— 42 USC 6240. (A) by striking •'(2)(Ar and inserting **(2r; and (B) by redesignating clauses (i), (ii), and (iii) as subparagraphs (A), (B), and (C), respectively. SEC. 1405. REDESIGNAHON OF ISLAND STATES. Section 157(a) of the Energy Policy and Conservation Act (42 U.S.C. 6237(a)) is amended— (1) by striking "(a)" and inserting "(a)(D"; and (2) by adding at the end the following new paragraph: "(2) For the purpose of carrying out this section— "(A) any State that is an island shall be considered to be a separate Federal Energy Administration Region, as defined in title 10, Code of Federal Regulations, as in effect on November 1, 1975; "(B) determinations made with respect to Regions, other than States that are islands, shall be made as if the islands were not part of the Regions; and "(C) with respect to determinations made for any State that is an island, the term 'refined petroleum product' shall have the same meaning given the term 'petroleum product' in section 3(3).". SEC. 1408. INSULAR AREAS STUDY. (a) IN GENERAL.— The Secretary shall conduct a study of the implications of the unique vulnerabilities of the insular areas to an oil supply disruption. Such study shall outline how the insular areas shall gain access to vital oil supplies during times of national emergency. Such study shall be completed and submitted to the Congress not later than 9 months after the date of the enactment of this Act. (b) DEFINITION. —For purposes of this section, the term "insular areas" means the Virgin Islands, Puerto Rico, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and Palau.
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