Department of Energy Carbon Capture and Storage Research, Development, and Demonstration Act of 2007

Department of Energy Carbon Capture and Storage Research, Development, and Demonstration Act of 2007 - (Sec. 2) Amends the Energy Policy Act of 2005 to revise requirements for the ten-year carbon capture storage research and development program. Makes it a carbon capture and storage research, development, and demonstration program.

Replaces the objective of developing carbon dioxide capture technologies on combustion-based systems with an objective of developing carbon dioxide capture and storage technologies related to electric power generating systems.

Adds the objective of expediting and carrying out large-scale testing of carbon sequestration systems in a range of geological formations that will provide information on the cost and feasibility of deploying sequestration technologies.

Directs the Secretary of Energy to carry out fundamental science and engineering research to develop and document the performance of new approaches to capture and store carbon dioxide, or to learn how to use carbon dioxide in products to lead to an overall reduction of carbon dioxide emissions.

Directs the Secretary to ensure that fundamental research is applied appropriately to energy technology development activities and the field testing of carbon sequestration testing and carbon use activities, including technologies: (1) that reduce the cost and increase the efficacy of carbon dioxide compression required for carbon dioxide storage; and (2) for carbon dioxide recycling and reuse.

Instructs the Secretary to promote regional carbon sequestration partnerships to conduct geologic sequestration tests involving carbon dioxide injection and monitoring, mitigation, and verification operations in a variety of geological settings. Includes among test objectives supporting Environmental Protection Agency (EPA) efforts to develop a scientifically sound regulatory framework enabling commercial-scale sequestration operations while safeguarding human health and underground sources of drinking water.

Requires the Secretary to conduct at least seven initial large-volume sequestration tests (excluding the FutureGen project) for geological containment of carbon dioxide to validate information on the cost and feasibility of commercial deployment of technologies for geological containment of carbon dioxide.

Requires the Secretary, in the process of carbon dioxide acquisition, to give preference to carbon dioxide purchases from industrial and coal-fired electric generation facilities.

Instructs the Secretary to implement three and five demonstrations using precombustion capture, post-combustion capture, and oxycombustion technologies for the large-scale capture of carbon dioxide from industrial sources, at least two of which generate electric energy from fossil fuels.

Prohibits the federal share of such projects from exceeding 50%.

Authorizes appropriations for FY2008-FY2011, and appropriations for FY2009-FY2012 for carbon capture.

(Sec. 3) Directs the Secretary to arrange with the National Academy of Sciences (NAS) for an independent review and oversight of the programs under this Act.

(Sec. 4) Directs the Assistant Administrator for Research and Development of the Environmental Protection Agency (EPA) to conduct a research program to determine procedures to protect public health, safety, and the environment from impacts associated with capture, injection, and sequestration of greenhouse gases in subterranean reservoirs.

Authorizes appropriations.

(Sec. 5) Directs the Secretary to arrange with the NAS to study for a report to Congress on: (1) guidelines for proposals from colleges and universities with substantial capabilities in the required disciplines to implement geological sequestration science programs that advance the Nation's capacity to address carbon management through geological sequestration science; and (2) a budget and recommendations for how much funding will be necessary to establish and implement a grant program for such colleges and universities to implement integrated geological carbon sequestration science programs.

Authorizes appropriations for FY2008.

Directs the Secretary, through the National Energy Technology Laboratory, to establish a competitive grant program through which colleges and universities may receive renewable four-year grants for: (1) salary and startup costs for newly designated faculty positions in an integrated geological carbon sequestration science program; and (2) internships for graduate students in geological sequestration science.

Authorizes appropriations.

(Sec. 6) Instructs the Secretary to: (1) establish a university-based research and development program to study carbon capture and sequestration using various types of coal; (2) award five grants for projects submitted by colleges or universities to study carbon capture and sequestration in conjunction with the recovery of oil and other enhanced elemental and mineral recovery; and (3) designate that at least two of these grants shall be awarded to rural or agricultural based institutions offering interdisciplinary programs in environmental science to study carbon capture and sequestration in conjunction with the recovery of oil and other enhanced elemental and mineral recovery.

Authorizes appropriations.