ENERGY INDEPENDENCE ACT

WRITTEN BY PRESIDENT KEVIN O’LEARY (LC-CA)
----100th Congress of the United States
IN BRIEF
To make America energy independent by expanding domestic energy.
== Section 1. Name of Bill ==
This Bill will be known as the ENERGY INDEPENDENCE ACT for the duration of this bill, in all debates, and following enactment by the executive branch will carry the same title.
== Section 2. Findings and Definitions ==
FINDINGS
# Whereas, energy independence will free our energy markets from dependence on the Middle East 
# Whereas, energy independence initiatives will create millions of new jobs
DEFINITIONS
# Fracking - The process of injecting liquid at high pressure into subterranean rocks, boreholes, etc. so as to force open existing fissures and extract oil or gas.
== Section 3. Domestic Energy Expansion ==
# An annual fund of $500,000,000 will be established to promote the expansion of Domestic Petroleum production by encouraging American businesses and corporations to expand their production of petroleum domestically.
## This fund shall expire in January 1995 unless extended by further legislation
# The Department of Energy can encourage expansion through the following means
## Grants
## Tax incentives
## Loans
## Aid
## Other means the Department of Energy deems effective
== Section 4. Fracking ==
# Fracking shall be legal in the United States
# There shall not be a limit on the amount of fracking permits available for usage on public lands
# Permits shall be granted to companies in the private sector to frack on federal lands, with the Department of Energy determining the qualifications to receive a permit
## Permits shall also be handed out to drill on non federal land should states enact statutes giving the federal government consent to grant permits on their land
## Incentives of up to $150,000 per company will be handed out to American energy companies who apply for a fracking permit to gather the necessary materials needed to begin fracking on applicable lands.
### This shall have a annual cap of $200,000,000 and shall expire January 1995 unless extended by further legislation
== Section 5. Funding ==
TOTAL BILL IMPLEMENTATION COST - $700,000,000 (annually, until 1995 unless extended)
* Section 3 - $500,000,000 (annually, until 1995 unless extended)
* Section 4 - $200,000,000 (annually, until 1995 unless extended)
Category:Bills
Category:Law