American Energy Independence and Job Creation Act
This bill directs the Bureau of Land Management (BLM) to implement a competitive leasing program for the exploration, development, and production of the oil and gas resources on the Coastal Plain, Arctic National Wildlife Refuge (ANWR), Alaska.
The bill amends the Alaska National Interest Lands Conservation Act of 1980 to repeal the prohibition against leasing or other development leading to production of oil and gas from ANWR.
The bill requires BLM to conduct its first lease sale within 22 months. This bill also prescribes terms and conditions governing Coastal Plain lease sales, including the establishment of environmental protection standards and the prohibition of exporting oil produced under the lease.
The bill establishes the ANWR Alternative Energy Trust Fund, into which shall be deposited 50% of the amount of revenues from federal oil and gas leasing and operations authorized under this bill.The fund must be used to provide grants and incentives for certain energy programs, including grants for clean coal power and renewable energy initiatives, and incentives for hydroelectric production.
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