Geothermal Energy Control Act of 1987

Geothermal Energy Control Act of 1987 - Establishes the National Geothermal Energy Commission.

Requires the Commission to determine those areas in the United States which have a potential for the extraction of geothermal resources and to publish a list of such areas in the Federal Register.

Directs the Commission to grant exclusive 99-year licenses to persons capable of carrying out exploration and development of geothermal resources in such areas. Sets forth conditions for the granting of such licenses and for extensions of license terms. Authorizes the termination of a license for any violation of the terms of the license prescribed by the Commission.

Permits a licensee under this Act to apply for a license to market the geothermal resources from the licensee's area in their natural state. Requires the Commission to grant a marketing license for a geographic area which is the most reasonable area to market successfully the geothermal resources. Provides that there shall be only one marketing license per geographic area. Provides that a marketing license shall be valid for as long as the licensee holds the exploration and development license.

Permits the transfer of exploration and development licenses and marketing licenses with the Commission's approval.

Requires that a licensee under this Act be a U.S. citizen or a person owned or controlled by a U.S. citizen.

Restricts the sale of geothermal resources which have been converted to electrical or other energy forms to existing utility companies or other persons licensed to transmit such energy. Permits the sale of geothermal resources to such a company or person for conversion into other energy forms.