Stop Oil Spills Act or the SOS Act - Amends the Energy Policy Act of 2005 to revise provisions concerning ultra-deepwater and unconventional natural gas and other petroleum resources.
Directs the Secretary of Energy (DOE) to establish: (1) a program of awards to support the development, demonstration, and commercialization of innovative technologies to prevent, stop, or capture large-scale accidental discharges of oil or other hydrocarbons from offshore oil and gas drilling operations, including deepwater and ultra-deepwater operations; and (2) an independent SOS Fund Technical Advisory Committee to advise on the development and implementation of programs under this Act.
Requires the awards to focus on new technologies or innovative improvements to existing technologies, including: (1) blowout preventers; (2) secondary control systems; (3) remotely operated vehicles; and (4) prefabricated systems or technologies to stop or capture a large-scale discharge from an offshore well, at or near the source of such discharge, in the event of failure of a blowout preventer.
Establishes in the Treasury a Safety and Offshore Spill (SOS) Fund into which shall be transferred, for each of FY2011-FY2017, $50 million from amounts of federal royalties, rents, and bonuses derived from federal onshore and offshore oil and gas leases issued under the Outer Continental Shelf Lands Act that are deposited in the Treasury.