Oil Shale Mining and Energy Corporation Act

[AI summary unavailable — showing source text] Oil Shale Mining and Energy Corporation Act - Creates the "Oil Shale Mining and Energy Corporation" to establish and administer on Federal land a national program of oil shale exploration and development. Provides that the Corporation shall have a Board of Directors appointed by the President with Senate approval, such board to direct the exercise of all the powers of the Corporation. Provides that the Corporation: (1) may make contracts to carry out its functions under this Act: (2) may purchase, lease, or dispose of such property as it deems necessary; (3) shall have the power to exercise the right of eminent domain; (4) shall have such power as may be necessary for the exercise of the powers specifically conferred in this Act; (5) shall have the power to acquire or dispose of real property except for oil or gas exploration and development; (6) shall have the power to explore for oil shale on Federal lands, to develop and sell oil and gas and other oil shale products produced on Federal lands, and to build and operate all those facilities necessary for the development or sales of such resources, as authorized by this Act; (7) shall have the power to explore, develop, acquire or s…