The CLEAN Energy Act of 2007
Major Provisions of H.R. 6
The CLEAN Energy Act of 2007 would repeal $14 bil-lion in subsidies given to Big Oil companies and invest those funds in clean, renewable energy and energy efficiency. The measure ensures that oil companies that were awarded the 1998 and 1999 leases for drilling pay their fair share in royalties. It will also close loopholes and end giveaways for Big Oil in the tax code and in the 2005 Energy bill. Finally, the bill creates a Strategic Renewable Energy Reserve to invest in clean, renewable energy resources and alternative fuels, promote new energy technologies, develop greater efficiency, and improve energy…
