Republicans Highlight Shuster's Energy Bill in New Initiative

Press Release

Republicans Highlight Shuster's Energy Bill in New Initiative

"Energy Independence Act" Used to Create Comprehensive Republican
Energy Legislation Introduced Today

Today, Congressman Bill Shuster joined his fellow House
Republicans in a press conference to introduce the "American Energy Act;" a bill that combines energy policies proposed by Members throughout House Republican Conference to lower gas prices and increase domestic energy production. Congressman Shuster is an original cosponsor of this Republican initiative which contains important provisions of his own "Energy Independence Act."

"House Republicans have driven the energy debate in Congress and the American people have responded to our message with popular support," Shuster said. "It is now time to merge our efforts and provide America with a clear alternative to Democratic inaction on energy."

"I introduced the ‘Energy Independence Act' to reverse decades of failed energy policies that have led to our deepening dependence on foreign oil and skyrocketing gas prices," Shuster said. "My bill offers the comprehensive approach we need to completely change our energy economy and I am pleased Republican leadership has responded to my efforts."

The "American Energy Act" includes many of the initiatives that form the core of Shuster's energy legislation including:

• The inclusion of Shuster's Alternative Energy Trust Fund to direct rents, bonus bids, and royalty revenue resulting from domestic drilling lease sales into the Fund to pay for renewable and alternative energy.

• Provisions to spur investment in the production of nuclear and coal-to-liquid fuels.

• Language to open the Outer Continental Shelf which will provide an additional three million barrels of oil per day, as well as 76 trillion cubic feet of natural gas.

• A section to open the Arctic coastal plain (ANWR), which will provide an additional one million barrels of oil per day.

• Development of America's shale oil resources, which could provide an additional 2.5 million barrels of oil per day.
In addition to these sections, the Republican energy legislation also includes provisions that Congressman Shuster supports to cut red tape blocking the construction of new refineries, provide tax incentives for businesses and families to buy fuel efficient vehicles, and extend tax incentives for fuel efficient home construction.

"House Republicans are united in their determination to pass legislation that embraces American-made energy," Shuster said. "Drilling alone will not solve our energy crisis, but it will create a bridge to the energies that will fuel our future. The ‘American Energy Act' provides the comprehensive solution America deserves."

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