Western Hemisphere Energy Compact - (Sec. 3) Defines specified terms. (Sec. 4) Directs the Secretary of State (Secretary) to establish the Western Hemisphere Energy Cooperation Forum which should seek to: (1) strengthen relationships between the United States and other countries of the Western Hemisphere through cooperation on energy issues; (2) enhance cooperation between major energy producers and major energy consumers in the Western Hemisphere, particularly among the governments of Brazil, Canada, Mexico, the United States, and Venezuela; and (3) promote renewable energy production and lessen oil import dependency. Directs the U.S. government to seek to implement: (1) an energy crisis initiative that will promote national and regional measures to respond to temporary energy supply disruptions; (2) an energy sustainability initiative to facilitate long-term supply security by fostering reliable supply sources of fuels, including energy from biomass; and (3) an energy for development initiative to promote energy access for underdeveloped areas through energy policy and infrastructure development. Directs the Secretary to seek Western Hemisphere governments' cooperation in establishing a Western Hemisphere Energy Industry Group, which shall increase public-private partnerships and foster private investment. Directs the U.S. government to explore the establishment of the Oil and Gas Working Group, which should strengthen oil- and natural gas-related dialogue among international oil companies, national oil companies, and civil society groups. (Sec. 5) Directs the Secretary to work with Brazil to: (1) coordinate efforts to promote the production and use of biofuels among all interested countries, giving preference to the countries in the Western Hemisphere that are among the poorest and most dependent on petroleum imports; (2) invite the European Union (EU), China, India, South Africa, Japan, and other interested countries to expand upon existing international efforts to create global biofuels markets and promote biofuels production and use in developing countries; (3) assess the feasibility of working with the International Bank for Reconstruction and Development (World Bank) and relevant regional development banks regarding biofuels; and (4) develop a coordinated strategy regarding the construction and retrofitting of pipelines and terminals near major fuel distribution centers, coastal harbors, and railroads. Authorizes FY2009 appropriations. Directs: (1) the Secretary of Agriculture to work with Brazil in joint agricultural biofuel extension activities; and (2) the Secretary of Energy to establish a grant program to finance advanced biofuels research and collaboration between academic and research institutions in the United States and Brazil. Authorizes FY2009 appropriations. (Sec. 6) Directs the Secretary to work with each partner country (as defined by this Act) to conduct a study to determine the feasibility of increasing biofuel production and use. Provides that such study shall: (1) analyze energy policy; (2) assess demand and resources; (3) analyze technologies and resources; (4) assess food stock and environmental impacts; and (5) develop policy options. Authorizes FY2009 appropriations. (Sec. 7) Directs the Secretary of the Treasury to inform the managements of the international financial institutions and the public that it is U.S. policy that such institutions should encourage development of renewable and biomass energy sources. (Sec. 8) Directs the Secretary to work with Western Hemisphere governments and other countries to organize regional and hemispheric carbon trading mechanisms. Authorizes FY2009 appropriations. (Sec. 9) Directs the Secretary to seek to establish a Western Hemisphere energy crisis response mechanism. Directs the Secretary of Energy to conduct a study of natural gas supply vulnerabilities in the Western Hemisphere. Authorizes FY2009 appropriations. (Sec. 10) Directs the Administrator of the United States Agency for International Development (USAID) to seek to increase U.S. foreign assistance programming in renewable energy, including activities to reduce energy import dependence through biofuel use. Authorizes the Administrator to award grants to nongovernmental organizations for sustainable energy and job creation projects in at-risk nations, such as Haiti. Authorizes appropriations. (Sec. 11) Authorizes appropriations to the Department of State for renewable energy-related diplomatic activities in the Western Hemisphere. (Sec. 12) Directs the Secretary to report annually to Congress on activities under this Act.

Date: 2007-03-28
Topic: International Affairs (Specific Country)
Subject: International affairs