Energy Management and Conservation Corporation Act

Energy Management and Conservation Corporation Act - Presents the finding of the Congress that: (1) the Nation is facing an increasing shortage of environmentally acceptable sources of energy: (2) this shortage is causing the United States to import increasing quantities of oil and natural gas thereby dangerously decreasing national independence of action and increasing its dependence upon foreign sources; (3) there exist on public lands large resources of oil shale and coal which can be used to manufacture liquid and gaseous fuels and so reduce the need for imports and help to relieve the shortage of supply; (4) the Federal Government has a responsibility to accelerate the use of these resources to produce liquid and gaseous fuels by (i) conducting and assisting research, development, and demonstration of technologies for producing such fuels from oil shale and from coal; (ii) designing, building, and operating commercial plants to demonstrate these technologies, to initiate new industries for the future private development of these resources, and to help reduce the need for imports; (5) the Federal Government likewise has a responsibility to lease public lands for the private development of these resources to produce liquid and gaseous fuels in ways compatible with national goals of protecting the environment and conservation of energy and resources; (6) government operation of commercial plants will (i) demonstrate the technologies compatible with environmental goals and so accelerate future private decisions for investment; and (ii) provide yardstick information with which to measure the future performance of private development of these public resources.

Declares it be the policy of the Congress that resources of oil shale and coal on public lands be developed promptly by both the Government and private interests. States that to this end, the Congress further determines that there be established and maintained through a National Energy Management and Conservation Corporation national programs with the following objectives: (1) begin as soon as possible the commercial development of oil shale and coal to provide supplies of liquid and gaseous fuels; (2) accelerate creation and demonstration of technologies to manufacture liquid and gaseous fuels from oil shale and coal, with acceptable environmental effects; and (3) promote early use of oil shale and coal resources to supply liquid and gaseous fuels by leasing public lands to private interests.

Provides for the creation of an Energy Management and Conservation Corporation which shall establish and administer on Federal land and any land in which the United States has reserved mineral interests a national program for the exploration, development, and conservation of energy mineral deposits.

Provides that in carrying out its duties under this Act, the Corporation may conduct research and development with a view toward improving the technology related to the use of oil shale, gasification of coal methods, geothermal steam, and solar energy as sources of energy for domestic and industrial uses in the United States.

Provides that in order to enable the Corporation to exercise the powers and duties vested in it by this Act: (1) the exclusive use, possession, and control of all property to be acquired by such Corporation in its own name or in the name of the United States of America, are entrusted to such Corporation for the purposes of this Act; and (2) the President of the United States may provide for the transfer to such Corporation of the use, possession, and control of other Federal land or personal property of the United States.

Provides that commencing in the first fiscal year beginning more than three years after the date of enactment of this Act, the proceeds for each fiscal year derived by the Board from the sale of energy minerals or any other products manufactured by the Corporation, and from any other activities of the Corporation including the disposition of any real or personal property, shall be paid into the Treasury of the United States at the end of each calendar year, save and except such part of such proceeds as in the opinion of the Board shall be necessary for the Corporation in the operation of its energy minerals resources exploration and development program. Provides that a continuing fund of $2,000,000 is also excepted from the requirements of this section and may be withheld by the Board to defray emergency expenses and to insure continuous operation.

Provides that the Corporation shall treat all decisions regarding the setting and design of any facility which may be constructed under this Act as a significant aspect of land use planning in which all environmental, economic, and technical issues with respect to such facility should be resolved in an integrated fashion.

Provides that in exploring and developing energy mineral resources and in the construction of any facility, the Corporation shall administer such programs so as to promote the conservation of lands and other natural resources, to preserve and enhance the environment, to maintain ecological balances, to protect the public health, safety, and welfare, and to restore and rehabilitate, as far as practicable, any lands from which energy mineral resources have been taken and which will no longer be needed by the Corporation for such use.

Authorizes to be appropriated $5,000,000,000 for the purpose of carrying out the provisions of this Act.