Bill Number: S. 388
Short Title: National Energy Security Act of 2001
Introduced: February 26, 2001
Sponsor: Senator Frank H. Murkowski (R-AK)

Purpose: To protect the energy and security of the United States and decrease America’s dependency on foreign oil sources to 50 percent by the year 2011 by enhancing the use of renewable energy resources, conserving energy resources, improving energy efficiencies, and increasing domestic energy supplies; improve environmental quality by reducing emissions of air pollutants and greenhouse gases; mitigate the effect of increases in energy prices on the American consumer, including the poor and the elderly; and for other purposes.

Summary: Mandates Federal studies and reports to Congress regarding specified national energy needs and resources. Prescribes research and development programs pertaining to designated energy technologies. Amends the Outer Continental Shelf Lands Act to authorize the Secretary of the Interior to reduce or eliminate the royalty or net profit share set forth in leases in the Western, Eastern and Central Planning Areas of the Gulf of Mexico. Mandates that: (1) Federal oil or gas royalties accruing to the United States under any lease or permit be paid in kind in oil or gas; and (2) such royalty-in-kind oil be transferred to the Secretary of Energy to fill the Strategic Petroleum Reserve. Mandates transfer to a State, upon its request, of Federal authority over oil and gas lease operations on Federal land within the State. Directs the Secretary, when the price of West Texas Intermediate crude oil or natural gas reach certain levels, to grant a specified credit against the payment of royalties on oil and gas exploration and development on Federal land and the Outer Continental Shelf in order to encourage those activities. Establishes Federal grant programs for incentive payments for nuclear energy technology and research. Arctic Coastal Plain Domestic Energy Security Act of 2001 - Prescribes leasing guidelines for the Arctic Coastal Plain (Arctic National Wildlife Refuge) for private sector oil and gas exploration, development, and production, including rights-of-way and easements for oil and gas transportation. Establishes Federal grant programs for: (1) local governmental use of alternative fuel vehicles; and (2) residential renewable energy. Delineates mandatory factors for consideration by Federal agencies in connection with hydroelectric power licensing procedures. Amends the Federal Power Act to direct the Federal Energy Regulatory Commission to approve an Electric Reliability Organization, which shall adopt standards for the reliable operation of a bulk power system. Amends the Public Utility Regulatory Practices Act of 1978 to repeal the requirement that an electric utility enter into a new contract to purchase or sell electric energy or capacity pursuant to requirements governing cogeneration and small power production. Repeals the Public Utility Holding Company Act of 1935. Deems State actions to support emission-free electricity sources to be control measures meeting Clean Air Act requirements and included in a State Implementation Plan.