Federal Energy Production Corporation Act

[AI summary unavailable — showing source text] Federal Energy Production Corporation Act - States that for the purpose of developing a program to make available to American consumers our large domestic energy reserves, including energy produced by environmentally acceptable processes from under-utilized or unconventional energy sources, there is hereby established the Federal Energy Production Corporation. States that the Corporation shall have a Board of Directors. Specifies the membership composition of such Board. Makes it the function of the Corporation, within twelve-months, to determine which of the under-utilized or unconventional energy sources are currently capable of being developed into energy on a commercial basis, and which of such sources are likely to be so capable of being developed into energy on a commercial basis, within the twenty-four-month period following the date of the enactment of this Act. Authorizes the Board to: (1) enter into contracts pursuant to which the Board shall, by means of grants, loan guarantees, price supports, guaranteed purchases, and low-interest loans, financially assist entities constructing commercial facilities to produce energy from under-utilized or unconventional energy sources…