Energy Independence and Security Act of 2007

[AI summary unavailable — showing source text] Creating Long-Term Energy Alternatives for the Nation Act of 2007, or the CLEAN Energy Act of 2007 - Amends the Internal Revenue Code with respect to the deduction from gross income of any attributable to domestic production activities. Excludes from domestic production gross receipts those derived from the sale, exchange, or other disposition of oil, natural gas, or any related primary product. (Thus denies a deduction for income attributable to domestic production of oil, natural gas, or their related primary products.) Increases from five to seven years the amortization schedule for geological and geophysical expenditures for certain major integrated oil companies. Royalty Relief for American Consumers Act of 2007 - Instructs the Secretary of the Interior to agree to any lessee request to amend any lease issued for any Central and Western Gulf of Mexico (Gulf) tract during 1998 and 1999 to incorporate specified price thresholds applicable to royalty suspension provisions. Reaffirms the authority of the Secretary to vary, based on the price of production from a lease, the suspension of royalties under specified leases on the Outer Continental Shelf. Cites conditions for the issua…