The Product Stewardship for Oil (PSO) scheme was introduced in January 2001 by the Australian Government with the aim of increasing used oil recycling. The scheme relates to petroleum based oils, which generate a recyclable stream of used oil. The environmental and health risks from inappropriate disposal of used petroleum based oils, and the lack of awareness and understanding of their potential value are examples of the issues that the PSO scheme aims to address. The scheme, administered by the Department of the Environment, Water, Heritage and the Arts (DEWHA), comprises a levy-benefit system, with a levy on new oil and benefit payments to used oil recyclers. The scheme aims to provide incentives to: ensure the environmentally sustainable management, re-refining and reuse of used oil; and support economic recycling options for used oil. This report presents the second four yearly review of the Product Stewardship (Oil) Act 2000 (PSO Act), which assesses the effectiveness and appropriateness of the PSO Act, and regulations and legislation under the Act.