Snowe Backs Energy Independence Bill

SNOWE BACKS ENERGY INDEPENDENCE BILL

Senator Olympia J. Snowe (R-Maine) joined Senator Richard Lugar (R-Indiana), Chair of the Senator Foreign Relations Committee, as a cosponsor of the Energy Diplomacy and Security Act (EDSA). This legislation would promote energy security through international partnerships and expanded energy partnerships with major energy producing and consuming countries.

"America's dependence on foreign oil has created an unacceptably high threat to our economy and our national security. A disruption in the supply of petroleum - as we saw last year in the aftermath of Hurricane Katrina - would result in the rise in domestic fuel costs that affect consumers from coast to coast and nearly every aspect of American industry. This legislation highlights the central need for greater international consensus and cooperation to reduce the risk of petroleum supply disruption," Snowe said. "The sudden and dramatic increase in fuel costs has demonstrated not only a greater a national, but international need, to develop alternatives to oil and to be better prepared for potential emergencies."

The Energy Diplomacy and Security Act, S. 2435, also calls for the establishment of a Coordinator for International Energy Affairs within the Office of the Secretary of State to promote international partnerships and establish a Hemisphere Energy Industry Group to improve conditions for private investment and public-private partnership.

http://snowe.senate.gov/news.htm