Energy PRICE Act

Bill: 109-s-2755
Sponsor: Sen. Thomas, Craig [R-WY]
Introduced: 2006-05-05 in the Senate
Policy area: Energy
Subjects: Administrative procedure
Air pollution control
Alaska
Animal behavior
Animals
Automobile engines
Automobile industry
Automobiles
Aviation fuels
Carbon dioxide
Coal
Commerce
Congress
Congressional reporting requirements
Corporation taxes
Cost effectiveness
Department of Transportation
Department of the Interior
Depreciation and amortization
Diesel motor
Easements
Economics and Public Finance
Electric power transmission
Energy assistance for the poor
Environmental Protection
Environmental assessment
Environmental research
Environmental technology
Expedited congressional procedure
Federal-Indian relations
Federal-state relations
Finance and Financial Sector
Fuel
Fuel consumption
Gas industry
Gas pipelines
Government Operations and Politics
Habitat conservation
Income tax
Indian claims
Indigenous peoples
Judicial review
Land transfers
Land use
Law
Legislation
Licenses
Methane
Minorities
Oil and gas leases
Oil and gas royalties
Oil shales
Oil well drilling
Petroleum engineering
Petroleum industry
Petroleum pipelines
Petroleum refineries
Petroleum reserves
Prospecting
Public Lands and Natural Resources
Reclamation of land
Revenue sharing
Right-of-way
Science, Technology, Communications
Social Welfare
Standards
Synthetic fuel
Tax credits
Tax deductions
Tax-exempt securities
Taxation
Transportation and Public Works
Water Resources Development
Wildlife conservation
Wildlife refuges

Summary:
action_date: 2006-05-05
text: 
 Energy Production, Refining, Infrastructure, Conservation and Efficiency Act, or the Energy PRICE Act - Directs the Secretary of the Interior to establish and implement a competitive leasing program for the exploration, development, and production of the oil and gas resources of the Coastal Plain (Arctic National Wildlife Refuge, ANWR).
 
Establishes in the Treasury the Coastal Plain Local Government Impact Aid Assistance Fund.
 
Amends the Internal Revenue Code to create an enhanced tax credit for oil recovery projects using qualified carbon dioxide in a method involving flooding or injection.
 
Amends Armed Forces procurement law to extend to cap at 25 years the multiyear contract authority of the Department of Defense to procure fuel derived from coal, oil shale, and tar sands.
 
Instructs the Administrator of the Environmental Protection Agency (EPA), upon request of a state or Indian tribe, to enter into an refinery permitting agreement to streamline the permit process for the construction and operation of a refinery.
 
Amends the Clean Air Act to: (1) hold a state harmless and not require it to revise its implementation plan to account for the emissions from a waiver granted by the Administrator; and (2) revise boutique fuel requirements.
 
Directs the EPA Administrator to: (1) conduct a research and demonstration program to evaluate the air quality benefits of ultra-clean Fischer-Tropsch transportation fuel, including diesel and jet fuel; and (2) evaluate the use of such fuel to reduce engine exhaust emissions. 
 
Amends the Internal Revenue Code to: (1) provide for full expensing of qualified refinery property; (2) treat certain oil and gas pipelines as five-year property for depreciation purposes; and (3) except tax-exempt financing of energy transportation infrastructure from the private business use test.
 
Amends the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users to repeal the prohibition against demolition of the Brightman Street Bridge (Massachusetts) and the requirement of its maintenance as an emergency service route.
 
Amends federal transportation law to revise the considerations the Secretary of Transportation (Secretary) must take into account when deciding maximum feasible average fuel economy standards.
 
Directs the Secretary to issue new regulations setting forth increased average fuel economy standards for passenger automobiles.
 
Requires the Administrator of the Federal Energy Regulatory Commission (FERC) to solicit applications for grants under the EPA Natural Gas STAR Program to pay the federal share of project costs for reduction of methane emissions in the oil and gas industries.


Legislative actions:
action_date: 2006-07-27
text: Sponsor introductory remarks on measure. (CR S8353)
action_date: 2006-05-05
text: Read twice and referred to the Committee on Finance.
action_date: 2006-05-05
text: Introduced in Senate