US SB1026

Amends the Internal Revenue Code to explicitly define "crude oil" to include tar sands products, bitumen, bituminous mixtures, and oil derived from kerogen-bearing sources like oil shale for federal excise tax purposes

Closes a loophole that currently exempts tar sands-derived oil from the federal petroleum excise tax that funds the Oil Spill Liability Trust Fund

Grants the Treasury Secretary regulatory authority to classify additional fuel feedstocks or finished fuel products as taxable crude oil if they meet Oil Pollution Act definitions and pose significant discharge hazard risks

Applies to products customarily transported by pipeline, vessel, railcar, or tanker truck that are produced in sufficient commercial quantities

Takes effect immediately upon enactment