Federal Energy Authority Act of 1979

Summary

Federal Energy Authority Act of 1979 - Title I: Federal Energy Authority - Establishes a nonprofit government corporation to be known as the Federal Energy Authority which shall be responsible for the construction and operation of facilities for the production of synthetic oil and gas from oil shale and coal. Sets forth provisions relating to the board of directors, to be appointed by the President, officers and employees, the general authority of the corporation, and reporting, recordkeeping and audits. Establishes in the United States Treasury the Federal Energy Authority Fund and authorizes the appropriation of $6,000,000,000 to carry out the purposes of this Act. Title II: Synthetic Fuels Production - Directs the Authority to establish at least three demonstration synthetic fuel production facilities for shale oil, coal oil, and coal gasification, each capable of producing a minimum of 100,000 barrels per day of synthetic fuel or equivalent. Authorizes the sale of such fuels and directs the Authority to establish competitive prices for such fuels. Requires that all proceeds from such sales be deposited in the Fund.

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1 official file

• Introduced in Senate

  summary · EN · 13 July 1979

  Open at official source

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