Rehberg, House Republicans Promote Comprehensive American Energy Act
Montana's Congressman, Denny Rehberg, today joined his House colleagues at a press conference to promote the recently introduced American Energy Act.
"With the pocketbooks of Montana families taking a hit from $4 per gallon gasoline, Congress needs to start passing policies that will increase domestic energy production," said Rehberg, a member of the House Energy and Water Subcommittee. "For years, I've been advocating a comprehensive approach that promotes the use of fossil fuels, alternative sources, energy conservation, and new technology development. And today, my colleagues and I introduced a bill that embodies this plan."
The American Energy Act would help reduce prices at the pump by providing an All of the Above' solution to America's energy crisis. Much like Rehberg's plan, the legislation would focus on increasing the supply of American-made energy in environmentally sound ways, improving energy conservation and efficiency, and promoting renewable and alternative energy technology.
"To solve our nation's energy problem, we need to explore both short- and long-term solutions right here in America," said Rehberg. "It's time we kick start domestic energy production."
Below is a quick description of key areas of the American Energy Act:
To increase the supply of American-made energy in environmentally sound ways, the legislation will:
· Open our deep water ocean resources, which will provide an additional three million barrels of oil per day, as well as 76 trillion cubic feet of natural gas.
· Open the Arctic coastal plain, which will provide an additional one 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 essentially blocks construction of new refineries.
To improve energy conservation and efficiency, the legislation will:
· Provide tax incentives for businesses and families that purchase more fuel efficient vehicles;
· Provide a monetary prize for developing the first 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 renewable and alternative energy technologies, the legislation will:
· Spur the development of alternative fuels through government contracting by repealing the "Section 526" prohibition on government purchasing of alternative energy and promoting 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