H.R.2540 - Protecting Investment in Oil shale the Next generation of Environmental, Energy and Resource Security (PIONEERS) Act111th Congress (2009-2010)
Summary: H.R.2540 — 111th Congress (2009-2010)
Introduced in House (05/21/2009)
Protecting Investment in Oil shale the Next generation of Environmental, Energy and Resource Security (PIONEERS) Act - Directs the Secretary of the Interior to hold a lease sale offering an additional 10 parcels for lease for research, development, and demonstration of oil shale resources under the terms offered in the solicitation of bids for such leases published on January 15, 2009.
Applies the oil shale management final rules published by the Department of the Interior on November 18, 2008, to all commercial leasing for the management of federally owned oil shale, and any associated minerals, located on federal lands.
Authorizes the Secretary to reduce temporarily any royalties, fees, rentals, bonus, or other payments for leases of federal lands for oil shale resources development and production as necessary to incentivize and encourage development of such resources, if the Secretary determines that such payments, otherwise authorized by law, are hindering production of such resources.