Guaranteed Energy Assistance Act of 2011 - Amends the Internal Revenue Code to impose an excise tax on each barrel of oil extracted pursuant to any lease of federal onshore lands under the Mineral Leasing Act, the Mineral Leasing Act for Acquired Lands, or any other federal law, or any lease under the Outer Continental Shelf Lands Act. Establishes the amount of such tax at the lesser of 50 cents per barrel or such amount as the Secretary of the Treasury estimates would result in aggregate revenue for a fiscal year equal to the excess of $5.1 billion over the amount appropriated for such fiscal year for providing assistance under the Low-Income Home Energy Assistance Act of 1981.
Establishes in the Treasury the Low-Income Home Energy Assistance Program Trust Fund (LIHEAP Trust Fund) to provide assistance under the Low-Income Home Energy Assistance Act of 1981. Limits the amount of such assistance to $5.1 billion in any fiscal year. Dedicates revenues from the tax on oil under this Act to such Fund.