Calls for Vote on Bill before the August Recess to Reduce Prices at the Pump

Press Release

U.S. Congressman Trent Franks (AZ-02) today joined Republican Leader John Boehner (OH-08), House Republican Whip Roy Blunt (MO-07), Conference Chairman Adam Putnam (FL-12), and other House Republicans in a press conference on the west front of the Capitol to introduce H.R. 6566, the American Energy Act, a comprehensive, "all of the above" energy plan with a clear strategy for lowering prices at the pump, reducing our dangerous dependence on foreign oil, and establishing a comprehensive strategy to a sustainable energy future.

"America continues to be the only nation in the world that refuses to utilize its own vast energy resources. Now that President Bush has lifted the executive moratorium on offshore drilling, the only thing preventing Americans from exploring and utilizing American sources of energy is Democrat leadership in Congress. Republicans made that clear again today by introducing legislation that truly encompasses every important aspect of effective energy policy. It would not only increase our domestic supply of energy, but would encourage conservation, innovation, alternative fuels and renewable technologies.

"America has risen above many difficult challenges throughout its history, and our energy crisis caused by decades of failed Democrat policies will be no different. Congress should not adjourn for the August recess before allowing a vote on this critical bill."

NOTE: A brief summary of the American Energy Act (H.R. 6566) follows:

To increase the supply of American-made energy in environmentally sound ways, the American Energy Act will:

- Open our deep water ocean resources, which could provide an additional 3 million barrels of oil per day, as well as 76 trillion cubic feet of natural gas;
- Open the Arctic coastal plain, which could provide an additional 1 million barrels of oil per day;
-Allow development of our nation's shale oil resources, which could provide an additional 2.5 million barrels of oil per day; and
- Increase the supply of gas at the pump by cutting bureaucratic red tape that hinders the construction of new refineries.

To improve energy conservation and efficiency, the American Energy Act will:

- Provide tax incentives for businesses and families that purchase more fuel efficient vehicles;
- Provide a monetary prize for being the first to develop an economically feasible, super-fuel-efficient vehicle (reaching 100 miles-per-gallon); and
- Provide tax incentives for businesses and homeowners who improve their energy efficiency.

To promote alternative and renewable energy technologies, the American Energy Act will:

- Spur the development of alternative fuels through government contracting, the repeal of the "Section 526" prohibition on government purchasing of alternative energy and promotion of coal-to-liquids technology;
- Establish a renewable energy trust fund using revenues generated by exploration in the deep ocean and on the Arctic coastal plain;
- Permanently extend the tax credit for alternative energy production, including wind, solar and hydrogen; and
- Eliminate barriers to the expansion of emission-free nuclear power production.

Source