H.R. 6207: $150 Barrel Energy Extortion Act of 2008
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H.R. 6207: $150 Barrel Energy Extortion Act of 2008
110th Congress · introduced 2008-06-09 · Energy · Latest: Referred to the Subcommittee on Energy and Mineral Resources.
federal
Follow this bill, step by step
- Where it came from: introduced 2008-06-09 · official record
- Who proposed it: Rep. Akin, W. Todd [R-MO-2] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the Subcommittee on Energy and Mineral Resources. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
$150 Barrel Energy Extortion Act of 2008
Plain summary
$150 Barrel Energy Extortion Act of 2008 - Instructs the Secretary of the Treasury to prescribe certain income tax regulations relating to an election to expense certain refineries. Amends the Internal Revenue Code (IRC) to treat domestic use oil refinery facilities bonds as exempt facility bonds. Instructs the President to designate, and make available to the private sector, at least 10 federal sites for siting and construction of an oil refinery or natural gas refinery (or both). Amends the Energy Policy Act of 2005 to revise the terms and conditions under which the Secretary of Energy (Secretary) is authorized to guarantee obligations for innovative technologies. Revises requirements governing the Secretary's authority to enter into contracts with sponsors of an advanced nuclear facility. Directs the Secretary to carry out a Nuclear Power 2010 Program to position the nation to start construction of new nuclear power plants as close to 2010 as achievable. Establishes an Interagency Working Group to make recommendations to coordinate federal actions and programs to promote increasing domestic manufacturing capacity and export of domestic nuclear energy products and services. Amends the IRC to allow tax credits for: (1) investment in a qualifying nuclear power manufacturing project or equipment; and (2) nuclear power facility construction. Instruct the Secretary of Labor to promulgate regulations to implement a training program to meet the demand for a nuclear energy workforce. Instructs the Secretary to establish a National Nuclear Energy Council. Authorizes the Secretary to initiate temporary spent nuclear fuel storage agreements. Declares that no consideration of the public health and safety, common defense and security, or environmental impacts of the storage of high-level radioactive waste and spent nuclear fuel generated in reactors licensed by the Nuclear Regulatory Commission (NRC) is required in connection with development, construction, and operation of a civilian nuclear power reactor or any facility for the treatment or storage of spent nuclear fuel or high-level radioactive waste. Amends the IRC to: (1) apply the tax credit for producing fuel from nonconventional sources to gas produced onshore from formations more than 15,000 feet deep; and (2) allow a tax credit for carbon dioxide captured from industrial sources and used as a tertiary injectant in enhanced oil and natural gas recovery. Terminates all laws prohibiting expenditures for oil and natural gas leasing and preleasing activities for areas of the outer Continental Shelf. American-Made Energy and Good Jobs Act - Provides for: (1) a competitive leasing program for the exploration, development, and production of oil and gas on the Alaskan Coastal Plain; (2) distribution of federal and state revenues from federal oil and gas leasing and operations; (3) rights-of-way and easements across the Coastal Plain for oil and gas transportation; and (4) financial assistance for local government impact aid and community service assistance.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
$150 Barrel Energy Extortion Act of 2008
Source: Congressional Research Service summary (Introduced in House)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Akin, W. Todd [R-MO-2] · 38 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Tom Cole (R-OK), Robert E. Latta (R-OH), Virginia Foxx (R-NC), Marsha Blackburn (R-TN), Darrell Issa (R-CA)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (6)
- Authorization
- A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
- Bond
- A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
- Obligation
- A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
- Rulemaking
- The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110hr6207.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/hr>
Record fed-us-cong110-hr6207 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110