LEASE Act of 2008

Bill: 110-hr-6670
Sponsor: Rep. Green, Gene [D-TX-29]
Introduced: 2008-07-30 in the House
Policy area: Energy
Subjects: Alabama
Alternative and renewable resources
Appropriations
Commodities markets
Energy assistance for the poor and aged
Energy prices
Energy research
Energy revenues and royalties
Energy storage, supplies, demand
Florida
Government trust funds
Gulf of Mexico
Louisiana
Marine and coastal resources, fisheries
Marine pollution
Mississippi
Oil and gas
Strategic materials and reserves
Texas
Wetlands

Summary:
action_date: 2008-07-30
text: 
Long-Term Energy Assurance and Security Enhancement Act of 2008 or the LEASE Act of 2008 - Instructs the Secretary of the Interior to open certain areas in the Eastern Gulf of Mexico to oil and gas leasing.
 
Directs the Secretary of the Treasury to distribute certain Outer Continental Shelf (OCS) revenues to: (1) the general fund of the Treasury; (2) the Energy Independence and Security Fund (established by this Act); (3) Gulf producing states; and (4) financial assistance to states.
 
Allocates funds among Gulf producing states and coastal political subdivisions.

Instructs the Secretary of the Interior to: (1) protect the environment and the conservation of the natural resources of the OCS; and (2) establish lateral boundaries between coastal states in areas of the OCS that are outside the Gulf of Mexico and under exclusive federal jurisdiction in order to lease areas for oil and natural gas exploration and production.
 
Authorizes the governor of a coastal state to request the Secretary of the Interior to assess OCS oil and gas resources.
 
Terminates federal prohibitions against the expenditure of appropriated funds to conduct oil and natural gas leasing and preleasing in specified areas of the OCS.
 
Establishes the Energy Independence and Security Fund, whose amounts shall be distributed to designated research and development programs, including: (1) assessments of oil and gas resources; (2) wind energy research; (3) solar energy; (4) marine and hydrokinetic renewable electric energy; and (5) the Weatherization Assistance Program.
 
Energy Markets Emergency Act of 2008 - Directs the Commodity Futures Trading Commission (CFTC) to: (1) curb immediately the role of excessive speculation in any contract market within its jurisdiction and control that trades energy futures or swaps; and (2) eliminate unlawful activity causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities.
 
Consumer Energy Supply Act of 2008 - Instructs the Secretary of Energy to: (1) sell light grade petroleum from the Strategic Petroleum Reserve (SPR) and acquire an equivalent volume of heavy grade petroleum; and (2) deposit the cash proceeds into the SPR Petroleum Account.


Legislative actions:
action_date: 2008-10-03
text: Referred to the Subcommittee on General Farm Commodities and Risk Management.
action_date: 2008-10-03
text: Referred to the Subcommittee on Department Operations, Oversight, Nutrition and Forestry.
action_date: 2008-09-17
text: Referred to the Subcommittee on Energy and Environment.
action_date: 2008-08-05
text: Referred to the Subcommittee on Energy and Mineral Resources.
action_date: 2008-07-31
text: Referred to the Subcommittee on Highways and Transit.
action_date: 2008-07-31
text: Referred to the Subcommittee on Water Resources and Environment.
action_date: 2008-07-30
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Science and Technology, Transportation and Infrastructure, Education and Labor, and Agriculture, 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.
action_date: 2008-07-30
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Science and Technology, Transportation and Infrastructure, Education and Labor, and Agriculture, 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.
action_date: 2008-07-30
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Science and Technology, Transportation and Infrastructure, Education and Labor, and Agriculture, 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.
action_date: 2008-07-30
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Science and Technology, Transportation and Infrastructure, Education and Labor, and Agriculture, 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.
action_date: 2008-07-30
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Science and Technology, Transportation and Infrastructure, Education and Labor, and Agriculture, 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.
action_date: 2008-07-30
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Science and Technology, Transportation and Infrastructure, Education and Labor, and Agriculture, 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.
action_date: 2008-07-30
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Science and Technology, Transportation and Infrastructure, Education and Labor, and Agriculture, 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.
action_date: 2008-07-30
text: Referred to the Subcommittee on Energy and Air Quality.
action_date: 2008-07-30
text: Introduced in House
action_date: 2008-07-30
text: Introduced in House