Provides that the Secretary of the Interior shall not grant, issue, or renew rights-of-way over, upon, or through Federal lands for pipelines and other systems for the transportation of oil if the applicant owns or controls any asset which would be prohibited from acquiring ownership or control of a pipeline asset.

Makes it unlawful for any person engaged in the business of: (1) transporting by means of a pipeline asset crude oil, to acquire any crude oil producing or refining asset; (2) manufacturing products from crude oil, to acquire any crude oil producing asset or transportation system; (3) extracting crude oil, to acquire any pipeline asset or crude oil refining asset.

Vests the district courts of the United States with jurisdiction to prevent and restrain violations of this Act. Penalizes violations by a fine of up to $100,000 and/or up to ten years imprisonment. Sets forth the definitions of terms used in this Act.