$150 Barrel Energy Extortion Act of 2008
Latest action · Jun 11, 2008 Referred to the Subcommittee on Energy and Mineral Resources.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 9, 2008
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
$150 Barrel Energy Extortion Act of 2008 - Instructs the Secretary of the Treasury to prescribe certain income tax regulations relating to an election to expense certain refineries.
Amends the Internal Revenue Code (IRC) to treat domestic use oil refinery facilities bonds as exempt facility bonds.
Instructs the President to designate, and make available to the private sector, at least 10 federal sites for siting and construction of an oil refinery or natural gas refinery (or both).
Amends the Energy Policy Act of 2005 to revise the terms and conditions under which the Secretary of Energy (Secretary) is authorized to guarantee obligations for innovative technologies.
Revises requirements governing the Secretary's authority to enter into contracts with sponsors of an advanced nuclear facility.
Directs the Secretary to carry out a Nuclear Power 2010 Program to position the nation to start construction of new nuclear power plants as close to 2010 as achievable.
Establishes an Interagency Working Group to make recommendations to coordinate federal actions and programs to promote increasing domestic manufacturing capacity and export of domestic nuclear energy products and services.
Amends the IRC to allow tax credits for: (1) investment in a qualifying nuclear power manufacturing project or equipment; and (2) nuclear power facility construction.
Instruct the Secretary of Labor to promulgate regulations to implement a training program to meet the demand for a nuclear energy workforce.
Instructs the Secretary to establish a National Nuclear Energy Council.
Authorizes the Secretary to initiate temporary spent nuclear fuel storage agreements.
Declares that no consideration of the public health and safety, common defense and security, or environmental impacts of the storage of high-level radioactive waste and spent nuclear fuel generated in reactors licensed by the Nuclear Regulatory Commission (NRC) is required in connection with development, construction, and operation of a civilian nuclear power reactor or any facility for the treatment or storage of spent nuclear fuel or high-level radioactive waste.
Amends the IRC to: (1) apply the tax credit for producing fuel from nonconventional sources to gas produced onshore from formations more than 15,000 feet deep; and (2) allow a tax credit for carbon dioxide captured from industrial sources and used as a tertiary injectant in enhanced oil and natural gas recovery.
Terminates all laws prohibiting expenditures for oil and natural gas leasing and preleasing activities for areas of the outer Continental Shelf.
American-Made Energy and Good Jobs Act - Provides for: (1) a competitive leasing program for the exploration, development, and production of oil and gas on the Alaskan Coastal Plain; (2) distribution of federal and state revenues from federal oil and gas leasing and operations; (3) rights-of-way and easements across the Coastal Plain for oil and gas transportation; and (4) financial assistance for local government impact aid and community service assistance.
Cosponsors 38
Members who signed on, in the order they did. Signatures ran from Jun 10, 2008 to Jul 10, 2008.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MO | Roy Blunt | Jun 10, 2008 | |
| R-AK | Don Young | Jun 12, 2008 | |
| R-CO | Doug Lamborn | Jun 12, 2008 | |
| R-CA | Duncan Hunter | Jun 12, 2008 | |
| R-CA | Howard P. "Buck" McKeon | Jun 12, 2008 | |
| R-CA | John T. Doolittle | Jun 12, 2008 | |
| R-TX | Louie Gohmert | Jun 12, 2008 | |
| R-IN | Mark E. Souder | Jun 12, 2008 | |
| R-NM | Stevan Pearce | Jun 12, 2008 | |
| R-OK | Tom Cole | Jun 12, 2008 | |
| R-GA | Tom Price | Jun 12, 2008 | |
| R-TN | John J. Duncan, Jr. | Jun 20, 2008 | |
| R-OH | Robert E. Latta | Jun 20, 2008 | |
| R-FL | Tom Feeney | Jun 20, 2008 | |
| R-TN | Zach Wamp | Jun 20, 2008 |
Actions 3
Everything that happened, newest first.
- Jun 11, 2008Referred to the Subcommittee on Energy and Mineral Resources.
- Jun 9, 2008Introduced in House
- Jun 9, 2008Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Rules, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
Assigned by the Library of Congress. Policy area: Energy.
- Administrative procedure
- Air pollution control
- Alaska
- Animals
- Bonds
- Carbon dioxide
- Coastal zone
- Continental shelf
- Department of Energy
- Department of Labor
- Department of the Treasury
- Depreciation and amortization
- Easements
- Economics and Public Finance
- Education
- Elementary and secondary education
- Energy
- Energy development
- Energy transportation
- Environmental assessment
- Environmental Protection
- Executive reorganization
- Federal advisory bodies
- Federally-guaranteed loans
- Finance and Financial Sector
- Foreign Trade and International Finance
- Foreign trade promotion
- Gas in submerged lands
- Gas industry
- Government contractors
- Government Operations and Politics
- Impact aid
- Income tax
- Investment tax credit
- Labor and Employment
- Law
- Manufacturing industries
- Marine and coastal resources, fisheries
- Natural gas
- Nuclear energy
- Nuclear exports
- Nuclear facilities
- Nuclear fuels
- Nuclear power plants
- Nuclear reactors
- Oil and gas leases
- Petroleum
- Petroleum industry
- Petroleum refineries
- Pipelines
- Prospecting
- Public Lands and Natural Resources
- Radioactive wastes
- Revenue sharing
- Right-of-way
- Science, Technology, Communications
- Secondary recovery of gas
- Secondary recovery of oil
- Storage
- Tax credits
- Tax deductions
- Taxation
- Technological innovations
- Transportation and Public Works
- Wildlife refuges
Text 1
Each version as it was printed, newest first.
- Jun 9, 2008Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.