I 
110TH CONGRESS 
2D SESSION 
H. R. 6207 
To develop American energy independence, lower gas prices, and open reliable 
national sources of energy. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 9, 2008 
Mr. AKIN introduced the following bill; which was referred 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 subse-
quently determined by the Speaker, in each case for consideration of such 
provisions as fall within the jurisdiction of the committee concerned 
A BILL 
To develop American energy independence, lower gas prices, 
and open reliable national sources of energy. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE, ETC. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘$150 Barrel Energy Extortion Act of 2008’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title, etc. 
TITLE I—REFINERIES 
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Sec. 101. Issuance of guidance. 
Sec. 102. Tax-exempt financing of domestic use oil refinery facilities. 
Sec. 103. Designation and availability of Federal lands for oil and natural gas 
refineries. 
TITLE II—NUCLEAR 
Sec. 201. Incentives for innovative technologies. 
Sec. 202. Standby support for certain nuclear plant delays. 
Sec. 203. Authorization for Nuclear Power 2010 Program. 
Sec. 204. Domestic manufacturing base for nuclear components and equipment. 
Sec. 205. Nuclear energy workforce. 
Sec. 206. Investment Tax Credit for Investments in Nuclear Power Facilities. 
Sec. 207. National Nuclear Energy Council. 
Sec. 208. Temporary Spent Nuclear Fuel Storage Agreements. 
Sec. 209. Confidence in availability of waste disposal. 
TITLE III—DRILLING 
Subtitle A—Tax Provisions 
Sec. 301. Credit for producing fuel from nonconventional sources to apply to 
gas produced onshore from formations more than 15,000 feet 
deep. 
Sec. 302. Tax credit for carbon dioxide captured from industrial sources and 
used in enhanced oil and natural gas recovery. 
Subtitle B—Termination of Congressional Moratoria on Oil and Gas 
Development on the Outer Continental Shelf 
Sec. 311. Termination of laws prohibiting expenditures for oil and natural gas 
leasing and preleasing activities regarding areas of the outer 
continental shelf. 
Subtitle C—Oil and Gas Development on the Coastal Plain of Alaska 
Sec. 321. Short title. 
Sec. 322. Definitions. 
Sec. 323. Leasing program for lands within the Coastal Plain. 
Sec. 324. Lease sales. 
Sec. 325. Grant of leases by the Secretary. 
Sec. 326. Lease terms and conditions. 
Sec. 327. Coastal plain environmental protection. 
Sec. 328. Expedited judicial review. 
Sec. 329. Federal and State distribution of revenues. 
Sec. 330. Rights-of-way across the Coastal Plain. 
Sec. 331. Conveyance. 
Sec. 332. Local government impact aid and community service assistance. 
TITLE IV—EFFECTIVE DATE 
Sec. 401. Effective date. 
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TITLE I—REFINERIES 
SEC. 101. ISSUANCE OF GUIDANCE. 
The Secretary of the Treasury shall, not later than 
60 days after the effective date of this Act, prescribe the 
regulations described in paragraph (1) of section 179C(b) 
of the Internal Revenue Code of 1986 (relating to election 
to expense certain refineries). 
SEC. 102. TAX-EXEMPT FINANCING OF DOMESTIC USE OIL 
REFINERY FACILITIES. 
(a) IN GENERAL.— 
(1) TREATMENT AS EXEMPT FACILITY BOND.— 
Subsection (a) of section 142 of the Internal Rev-
enue Code of 1986 (relating to exempt facility bond) 
is amended by striking ‘‘or’’ at the end of paragraph 
(14), by striking the period at the end of paragraph 
(15) and inserting ‘‘, or’’, and by inserting at the 
end the following new paragraph: 
‘‘(16) domestic use oil refinery facilities.’’. 
(2) DOMESTIC
USE
OIL
REFINERY
FACILI-
TIES.—Section 142 of such Code is amended by 
adding at the end the following new subsection: 
‘‘(n) DOMESTIC USE OIL REFINERY FACILITIES.— 
‘‘(1) IN GENERAL.—For purposes of subsection 
(a)(16), the term ‘domestic use oil refinery facility’ 
means any facility in the United States— 
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‘‘(A) which processes liquid fuel from 
crude oil, and 
‘‘(B) all of the output of which it is rea-
sonably certain ultimate consumption will occur 
in the United States. 
‘‘(2) ELECTION
TO
TERMINATE
TAX-EXEMPT 
BOND FINANCING BY CERTAIN REFINERIES.—In the 
case of a facility financed with bonds which would 
cease to be tax-exempt by reason of the failure to 
meet the domestic use requirement of this sub-
section, rules similar to the rules of subsection (f)(4) 
shall apply for purposes of this section.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to bonds issued after the effective 
date of this Act. 
SEC. 103. DESIGNATION AND AVAILABILITY OF FEDERAL 
LANDS FOR OIL AND NATURAL GAS REFIN-
ERIES. 
(a) DESIGNATION.—Within 18 months after the ef-
fective date of this Act, the President shall designate at 
least ten sites on Federal lands that are suitable for the 
siting of an oil refinery or natural gas refinery (or both). 
(b) AVAILABILITY OF LANDS.—Within 24 months 
after the effective date of this Act, the President shall 
make each site designated under subsection (a) available 
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to the private sector for construction of an oil refinery or 
natural gas refinery (or both), as appropriate. 
TITLE II—NUCLEAR 
SEC. 201. INCENTIVES FOR INNOVATIVE TECHNOLOGIES. 
(a) DEFINITION OF PROJECT COST.—Section 1701 
of the Energy Policy Act of 2005 (42 U.S.C. 16511) is 
amended by adding at the end the following new para-
graph: 
‘‘(6) PROJECT COST.—The term ‘project cost’ 
means all costs associated with the development, 
planning, design, engineering, permitting and licens-
ing, construction, commissioning, start-up, shake-
down and financing of the facility, including but not 
limited to reasonable escalation and contingencies, 
the cost of and fees for the guarantee, reasonably re-
quired reserve funds, initial working capital and in-
terest during construction.’’. 
(b) TERMS AND CONDITIONS.—Section 1702(b) of 
the Energy Policy Act of 2005 (42 U.S.C. 16512(b)) is 
amended to read as follows: 
‘‘(b) SPECIFIC
APPROPRIATION
OR
CONTRIBU-
TION.— 
‘‘(1) IN
GENERAL.—No guarantee shall be 
made unless— 
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‘‘(A) an appropriation for the cost has 
been made; 
‘‘(B) the Secretary has received from the 
borrower a payment in full for the cost of the 
obligation and deposited the payment into the 
Treasury; or 
‘‘(C) a combination of subparagraphs (A) 
and (B) has been made, that when combined is 
sufficient to cover the cost of the obligation. 
‘‘(2) RELATION
TO
OTHER
LAWS.—Section 
504(b) of the Federal Credit Reform Act of 1990 (2 
U.S.C. 661c(b)) shall not apply to a loan guarantee 
made in accordance with paragraph (1)(B).’’. 
(c) AMOUNT.—Section 1702(c) of the Energy Policy 
Act of 2005 (42 U.S.C. 16512(c)) is amended to read as 
follows: 
‘‘(c) AMOUNT.— 
‘‘(1) IN GENERAL.—Subject to paragraph (2), 
the Secretary shall guarantee 100 percent of the ob-
ligation for a facility that is the subject of the guar-
antee, or a lesser amount if requested by the bor-
rower. 
‘‘(2) LIMITATION.—The total amount of loans 
guaranteed for a facility by the Secretary shall not 
exceed 80 percent of the total cost of the facility, as 
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estimated at the time at which the guarantee is 
issued.’’. 
(d) FEES.—Section 1702(h) of the Energy Policy Act 
of 2005 (42 U.S.C. 16512(h)) is amended by striking 
paragraph (2) and inserting the following: 
‘‘(2) AVAILABILITY.—Fees collected under this 
subsection shall— 
‘‘(A) be deposited by the Secretary into a 
special fund in the Treasury to be known as the 
‘Incentives For Innovative Technologies Fund’; 
and 
‘‘(B) remain available to the Secretary for 
expenditure, without further appropriation or 
fiscal year limitation, for administrative ex-
penses incurred in carrying out this title.’’. 
SEC. 202. STANDBY SUPPORT FOR CERTAIN NUCLEAR 
PLANT DELAYS. 
(a) DEFINITIONS.—Section 638(a) of the Energy 
Policy Act of 2005 (42 U.S.C. 16014(a)) is amended as 
follows: 
(1) By inserting the following: 
‘‘(4) FULL POWER OPERATION.—The term ‘full 
power operation’ means whichever occurs first of— 
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‘‘(A) the ‘commercial operation date’ or 
the equivalent under the terms of the financing 
documents for such facility; or 
‘‘(B) operation of such facility at an aver-
age of 50 percent or greater of nameplate ca-
pacity over any consecutive 30-day period. 
‘‘(5) INCREASED
PROJECT
COSTS.—The term 
‘increased project costs’ means the increased cost of 
constructing, commissioning, testing, operating, or 
maintaining a reactor prior to full-power operation 
incurred as a result of a delay covered by the con-
tract, including but not limited to costs of demobili-
zation and remobilization, increased costs of equip-
ment, materials and labor due to delay (including 
idle time), increased general and administrative 
costs, and escalation costs for completing construc-
tion. 
‘‘(6) LITIGATION.—The term ‘litigation’ means 
adjudication in Federal, State, local, or tribal courts 
and administrative proceedings or hearings at or be-
fore Federal, State, local, or tribal agencies or ad-
ministrative bodies.’’. 
(2) By redesignating paragraph (4) as para-
graph (7). 
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(b) CONTRACT AUTHORITY.—Section 638(b) of the 
Energy Policy Act of 2005 (42 U.S.C. 16014(b)) is 
amended by striking paragraph (1) and inserting the fol-
lowing: 
‘‘(1) IN GENERAL.—The Secretary may enter 
into contracts under this section with sponsors of an 
advanced nuclear facility that cover at any one time 
outstanding a total of not more than 6 reactors, 
with the 6 reactors consisting of not more than 3 
different reactor designs, in accordance with para-
graph (2). In the event that any contract entered 
into under this section terminates or expires without 
a claim being paid by the Secretary thereunder, then 
the Secretary may enter into a new contract under 
this section in replacement or substitution for such 
contract.’’. 
(c) COVERED COSTS.—Section 638(d) of the Energy 
Policy Act of 2005 (42. U.S.C. 16014(d)) is amended by 
striking paragraphs (2) and (3) and inserting the fol-
lowing: 
‘‘(2) COVERAGE.—In the case of reactors that 
receive combined licenses and on which construction 
is commenced, the Secretary shall pay— 
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‘‘(A) 100 percent of the covered costs of 
delay that occur after the initial 30-day period 
of covered delay; but 
‘‘(B) not more than $500,000,000 per con-
tract. 
‘‘(3) COVERED DEBT OBLIGATIONS.—Debt obli-
gations covered under subparagraph (A) of para-
graph (5) shall include but not be limited to debt ob-
ligations incurred to pay increased project costs.’’. 
(d) DISPUTE RESOLUTION.—Section 638 of the En-
ergy Policy Act of 2005 (42 U.S.C. 16014) is amended 
as follows: 
(1) By inserting the following: 
‘‘(f) DISPUTE RESOLUTION.—Any controversy or 
claim arising out of or relating to any contract entered 
into under this section shall be determined by arbitration 
in Washington, DC, according to the then prevailing Com-
mercial Arbitration Rules of the American Arbitration As-
sociation. A decision by the arbitrator or arbitrators shall 
be final and binding, and any court having jurisdiction 
may enter judgment on it.’’. 
(2) By redesignating subsections (f), (g), and 
(h) as subsections (g), (h), and (i) respectively. 
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SEC. 203. AUTHORIZATION FOR NUCLEAR POWER 2010 PRO-
GRAM. 
Section 952(c) of the Energy Policy Act of 2005 (42 
U.S.C. 16014) is amended by striking paragraphs (1) and 
(2) and inserting the following: 
‘‘(1) IN GENERAL.—The Secretary shall carry 
out a Nuclear Power 2010 Program to position the 
Nation to start construction of new nuclear power 
plants by 2010 or as close to 2010 as achievable. 
‘‘(2) SCOPE OF PROGRAM.—The Nuclear Power 
2010 Program shall be cost-shared with the private 
sector and shall support the following objectives: 
‘‘(A) Demonstrating the licensing process 
for new nuclear power plants, including the Nu-
clear Regulatory Commission process for ob-
taining early site permits (ESPs), combined 
construction/operating licenses (COLs), and de-
sign certifications. 
‘‘(B) Conducting first-of-a-kind design and 
engineering work on at least two advanced nu-
clear reactor designs sufficient to bring those 
designs to a state of design completion suffi-
cient to allow development of firm cost esti-
mates. 
‘‘(3) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the Sec-
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retary to carry out the Nuclear Power 2010 Pro-
gram: 
‘‘(A) $182,800,000 for fiscal year 2008. 
‘‘(B) $159,600,000 for fiscal year 2009. 
‘‘(C) $135,600,000 for fiscal year 2010. 
‘‘(D) $46,900,000 for fiscal year 2011. 
‘‘(E) $2,200,000 for fiscal year 2012.’’. 
SEC. 204. DOMESTIC MANUFACTURING BASE FOR NUCLEAR 
COMPONENTS AND EQUIPMENT. 
(a) ESTABLISHMENT
OF INTERAGENCY WORKING 
GROUP.— 
(1) PURPOSES.—The purposes of this sub-
section are— 
(A) to increase the competitiveness of the 
United States nuclear energy products and 
services industries; 
(B) to identify the stimulus or incentives 
necessary to cause United States manufacturers 
of nuclear energy products to expand manufac-
turing capacity; 
(C) to facilitate the export of United 
States nuclear energy products and services; 
(D) to reduce the trade deficit of the 
United States through the export of United 
States nuclear energy products and services; 
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(E) to retain and create nuclear energy 
manufacturing and related service jobs in the 
United States; 
(F) to integrate the objectives in subpara-
graphs (A) through (E) in a manner consistent 
with the interests of the United States, into the 
foreign policy of the United States; and 
(G) to authorize funds for increasing 
United States capacity to manufacture nuclear 
energy products and supply nuclear energy 
services. 
(2) ESTABLISHMENT.— 
(A) There shall be established an inter-
agency working group that, in consultation with 
representative industry organizations and man-
ufacturers of nuclear energy products, shall 
make recommendations to coordinate the ac-
tions and programs of the Federal Government 
in order to promote increasing domestic manu-
facturing capacity and export of domestic nu-
clear energy products and services. 
(B) The Interagency Working Group shall 
be composed of— 
(i) the Secretary of Energy, or the 
Secretary’s designee, who shall chair the 
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interagency working group and shall pro-
vide staff for carrying out the functions of 
the interagency working group; 
(ii) representatives of— 
(I) the Department of Energy; 
(II) the Department of Com-
merce; 
(III) the Department of Defense; 
(IV) the Department of the 
Treasury; 
(V) the Department of State; 
(VI) the Environmental Protec-
tion Agency; 
(VII) the United States Agency 
for International Development; 
(VIII) the Export-Import Bank 
of the United States; 
(IX) the Trade and Development 
Agency; 
(X) the Small Business Adminis-
tration; 
(XI) the Office of the United 
States Trade Representative; and 
(XII) other Federal agencies, as 
determined by the President. 
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(C) The heads of appropriate agencies 
shall detail such personnel and furnish such 
services to the interagency group, with or with-
out reimbursement, as may be necessary to 
carry out the group’s functions. 
(3) DUTIES OF THE INTERAGENCY WORKING 
GROUP.— 
(A) Not later than 6 months after the ef-
fective date of this Act, the interagency working 
group established under paragraph (2)(A) shall 
identify the actions necessary to promote the 
safe development and application in foreign 
countries of nuclear energy products and serv-
ices in order to— 
(i) increase electricity generation from 
nuclear energy sources through develop-
ment of new generation facilities; 
(ii) improve the efficiency, safety, and 
reliability of existing nuclear generating fa-
cilities through modifications; and 
(iii) enhance the safe treatment, han-
dling, storage, and disposal of used nuclear 
fuel. 
(B) Not later than 6 months after the ef-
fective date of this Act, the interagency working 
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group shall identify mechanisms (including tax 
stimulus for investment, loans and loan guaran-
tees, and grants) necessary for United States 
companies to increase their capacity to produce 
or provide nuclear energy products and services, 
and to increase their exports of nuclear energy 
products and services. The interagency working 
group shall identify administrative or legislative 
initiatives necessary to— 
(i) encourage United States compa-
nies to increase their manufacturing capac-
ity for nuclear energy products; 
(ii) provide technical and financial as-
sistance and support to small and mid- 
sized businesses to establish quality assur-
ance programs in accordance with domestic 
and international nuclear quality assurance 
code requirements; 
(iii) encourage, through financial in-
centives, private sector capital investment 
to expand manufacturing capacity; and 
(iv) provide technical assistance and 
financial incentives to small and mid-sized 
businesses to develop the workforce nec-
essary to increase manufacturing capacity 
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and meet domestic and international nu-
clear quality assurance code requirements. 
(C) Not later than 9 months after the ef-
fective date of this Act, the interagency working 
group shall provide a report to Congress on its 
findings under subparagraphs (A) and (B), in-
cluding recommendations for new legislative au-
thority where necessary. 
(4) 
TRADE
ASSISTANCE.—The 
interagency 
working group shall encourage the member agencies 
of the interagency working group to— 
(A) provide technical training and edu-
cation for international development personnel 
and local users in their own country; 
(B) provide financial and technical assist-
ance to nonprofit institutions that support the 
marketing and export efforts of domestic com-
panies that provide nuclear energy products and 
services; 
(C) develop nuclear energy projects in for-
eign countries; 
(D) provide technical assistance and train-
ing materials to loan officers of the World 
Bank, international lending institutions, com-
mercial and energy attaches at embassies of the 
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(b) NUCLEAR
POWER
FACILITY
CONSTRUCTION 
CREDIT.—Subpart E of part IV of subchapter A of chap-
ter 1 of such Code, as amended by this Act, is amended 
by inserting after section 48C the following new section: 
‘‘SEC. 48D. NUCLEAR POWER FACILITY CONSTRUCTION 
CREDIT. 
‘‘(a) IN GENERAL.—For purposes of section 46, the 
nuclear power facility construction credit for any taxable 
year is 10 percent of the qualified nuclear power facility 
expenditures with respect to a qualified nuclear power fa-
cility. 
‘‘(b) WHEN
EXPENDITURES
TAKEN
INTO
AC-
COUNT.— 
‘‘(1) IN GENERAL.—Qualified nuclear power fa-
cility expenditures shall be taken into account for 
the taxable year in which the qualified nuclear power 
facility is placed in service. 
‘‘(2) COORDINATION WITH SUBSECTION (C).— 
The amount which would (but for this paragraph) be 
taken into account under paragraph (1) with respect 
to any qualified nuclear power facility shall be re-
duced (but not below zero) by any amount of quali-
fied nuclear power facility expenditures taken into 
account under subsection (c) by the taxpayer or a 
predecessor of the taxpayer (or, in the case of a sale 
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ing to serve until their successors are elected at the 
next organizational meeting of the Council. 
(d) MEETINGS.— 
(1) Regular meetings of the Council shall be 
held at least twice each year at times determined by 
the Chairman and approved by the Government Co-
chairman. 
(2) No meeting of the Council shall be held un-
less the Government Cochairman approves the agen-
da thereof, approves the calling thereof, and is 
present thereat. 
(3) The time and place of all Council meetings 
shall be given general publicity and such meetings 
shall be open to the public. 
(e) STUDIES BY THE COUNCIL.— 
(1) The Council may establish study committees 
to prepare reports for the consideration of the Coun-
cil pursuant to requests from the Secretary of En-
ergy for advice, information, and recommendations. 
(2) The Secretary of Energy or a full-time em-
ployee of the Department of Energy designated by 
the Secretary shall be the Cochairman of each study 
committee. 
(3) The members of study committees shall be 
selected from the Council membership on the basis 
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