H.R.6207: To develop American energy independence, lower gas prices, and open reliable national sources of energy.

To develop American energy independence, lower gas prices, and open reliable national sources of energy. 6/9/2008--Introduced. $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 [...]

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