Walberg Cosponsors No More Excuses Energy Act of 2007

Press Release

U.S. Congressman Tim Walberg (R-MI) today issued the following statement after co-sponsoring H.R. 3089, the No More Excuses Energy Act of 2007. The legislation would encourage construction of new refineries, reduce greenhouse emissions, boost alternative energy development, increase American oil production and encourage the construction of new nuclear power plants.

"I am continuously receiving emails, letters and phone calls from families on tight budgets expressing their frustration every time they travel to the pump to fill up. High gas prices are affecting families, truckers, farmers, small business owners, emergency services and numerous other entities.
"A barrel of oil now sells for nearly $120 and some experts are even predicting a gallon of gas could cost $4 dollars this summer. This is unacceptable to me and to folks in south-central Michigan. We absolutely must bring down the price at the pump, and politicians must take practical steps to reduce gas prices.
"One bill that would impact the price at the pump is the appropriately named No More Excuses Energy Act. Rather than increase taxes on domestic energy production as some in Congress have proposed, this legislation increases the supply of all energy forms produced in America. Wind, natural gas, hydro-power, oil, coal and nuclear power are all covered in this legislation.
"The answer to our current energy situation is simple: we need to break our dependence on foreign oil. Supporting legislation like the No More Excuses Energy Act will return much of our energy production back to the United States and create American jobs. Congress needs to pass this important bill to bring down the price at the pump, encourage American energy production and end our country's reliance on Middle Eastern oil."

BACKGROUND:
H.R. 3089, the No More Excuses Energy Act of 2007:
- Encourages new refinery construction by requiring the IRS to take action to allow tax exempt bonds to be used for construction of certain refineries, and makes federal lands available for refinery construction.
- Reduces green house emissions by offering a tax credit for CO2 captured for use in marginal oil wells.
- Boosts alternative energy development by extending the Wind Production Tax Credit for 10 years.
- Lifts the ban on drilling in along the Outer Continental Shelf, potentially providing 17 billion barrels of oil.
- Opens the Arctic National Wildlife Refuge to responsible drilling, potentially producing nearly a million barrels per day for several decades.
- Provides incentives to encourage investment in a much-needed industrial base for building new nuclear power plants.

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