Bi-Partisan Working Group Embraces Lampson Energy Plan

Press Release

Bi-Partisan Working Group Embraces Lampson Energy Plan

Compromise Energy Proposal Provides Drilling, Alternative Energy Research, and Tax Breaks; Decreases Gas Prices, Strengthens National Security

A compromise energy plan was unveiled today by a bi-partisan coalition that included Rep. Nick Lampson, D-Texas, and provides for drilling, tax breaks, and funding for alternative energy research. The comprehensive energy plan is bolstered by innovative proposals previously introduced by Rep. Lampson that present solutions for America's energy crisis.

"Through compromise we have developed a plan that will help American's struggling to fill their gas tanks and provide long-term solutions for America's energy crisis," said Rep. Lampson. "Congress must put aside partisanship to do what is right for our country; that is what we have done with this middle-ground energy plan. Compromise should not be the exception to the rule."

The working group grew out of frustrations in Congress over the partisan divide that has prevented a comprehensive energy plan from being developed. Co-Chairs Neil Abercrombie, D-Hawaii, and John Peterson, R-Pa, lead the group of legislators that has proposed a moderate, common sense energy plan that promises relief for consumers; and increased energy independence and economic expansion for America.

Republicans and Democrats in the coalition embraced significant portions of two major proposals Rep. Lampson designed to decrease prices for consumers, while increasing national security and economic development.

Rep. Lampson was the first Democrat to introduce legislation that opens the outer continental shelf (OCS) and Arctic National Wildlife Refuge (ANWR) for drilling and oil exploration. Increasing opportunities for domestic oil production will decrease gas prices for every American with a car or truck. The proposal directs $2.6 trillion from lease royalties to be used for alternative energy research that will increase America's energy independence and grow the economy by creating new industry.

"Decreasing gas prices and strengthening national security at the same time is good, common sense policy," said Rep. Lampson, an oil-patch Democrat. Working group participants were enthusiastic about Rep. Lampson's plan to modernize the Strategic Petroleum Reserve and invest over $1.3 billion in pre-approved clean energy research projects. The proposal directs the Secretary of Energy to exchange 10 percent of light crude in the SPR for heavy crude. The exchange will create new revenue by capitalizing on the price differential between light and heavy crude which averages $12 a barrel (in June 2008 it was ~$15); and uses these funds to promote research and development for clean domestic energy and renewable energy.

"This comprehensive energy plan will provide relief for consumers, increase domestic exploration and alternative energy research, and strengthen national security; hopefully the American public will get involved and tell their representative to put politics aside and vote for solutions," said. Rep. Lampson. "The period of consequence is upon us and the solution is in front of us, hopefully Congress will not miss this opportunity to do what is right for America."

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