Western Hemisphere Energy Compact - Directs the Secretary of State (Secretary) to seek to establish the Western Hemisphere Energy Cooperation Forum to: (1) strengthen relationships between the United States and other countries of the Western Hemisphere through cooperation on energy issues; and (2) promote renewable energy production and lessen oil import dependency.
Directs the Secretary to seek to implement: (1) an energy crisis initiative; (2) an energy sustainability initiative; (3) an energy for development initiative; and (4) a climate change mitigation and adaptation initiative.
Directs the Secretary to seek to establish a Western Hemisphere Energy Industry Group to increase public-private partnerships and foster private investment.
Directs the Secretary and the Secretary of Energy to seek to establish an Oil and Gas Working Group to strengthen oil- and natural gas-related dialogue among international oil companies, national oil companies, and civil society groups.
Directs the Secretary to work with Brazil to: (1) promote biofuel production and use; (2) invite interested countries to expand global biofuels markets and promote biofuels production and use in developing countries; and (3) assess the feasibility of working with the World Bank and relevant regional development banks regarding biofuels.
Directs the Secretary of Agriculture to work with Brazil, Canada, and other governments in agricultural biofuel extension activities.
Directs the Secretary to: (1) conduct a study to determine the feasibility of increasing biofuel production and use; (2) work with Western Hemisphere governments and other countries to organize regional and hemispheric carbon trading mechanisms; and (3) seek to establish a Western Hemisphere energy crisis response mechanism.
Directs the Administrator of the United States Agency for International Development (USAID) to seek to increase U.S. foreign assistance programming in renewable energy.