Thursday, July 24, 2008

Gingrey supports American Energy Act An “All-of-the-Above” Approach to Energy Independence

U.S. Congressman Phil Gingrey released the following statement after joining his House Republican colleagues to introduce the American Energy Act, a comprehensive energy bill to help reduce gas prices by increasing the supply of American-made energy, improving conservation and efficiency, and harnessing renewable and alternative energy technologies.

“Georgia families have now been paying north of four dollars a gallon for gasoline for over a month,” said Gingrey. “As a nation in crisis, we must realize that there is no single solution that Congress can enact that will provide both short and long term solutions. Instead, this crisis requires a multi-faceted – ‘all-of-the-above’ – approach that increases domestic energy supply, thereby reducing our dependence on foreign oil and providing immediate relief to the pain we are all feeling at the pump.”

“The American Energy Act is just what the doctor ordered, and will put us on the road toward energy independence. I call on Speaker Pelosi and the Democratic Leadership to do the right thing for hardworking Americans and immediately bring the American Energy Act to a vote on the House floor.”

Rep. Gingrey will be leading an in-depth discussion of the American Energy Act this evening as he hosts a special order hour on the House Floor. You can view this energy discussion on C-SPAN.

Increases the Supply of American-made Energy in Environmentally Sound Ways

Opens the Outer Continental Shelf (OCS), which will provide an additional three million barrels of oil per day, as well as 76 trillion cubic feet of natural gas.

Opens the Arctic National Wildlife Refuge (ANWR), which will provide an additional 1.5 million barrels of oil per day.

Increase the supply of gas at the pump by cutting bureaucratic red tape that essentially blocks construction of new refineries.

Allow development of our nation’s shale oil resources, which could provide an additional 2.5 million barrels of oil per day – a total of 1.3 trillion barrels of oil currently under the lock and key of the federal government.

Promotes renewable and alternative energy technologies

Spurs 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.

Establishes a renewable energy trust fund using revenues generated by exploration in the Outer Continental Shelf (OCS) and ANWR.

Permanently extends the tax credit for alternative energy production, including wind, solar, hydrogen and biomass, as proposed in H.R. 5984 – the Clean Energy Tax Stimulus Act, introduced by Representative Roscoe Bartlett from Maryland.

Eliminates barriers to the expansion of emission-free nuclear power production.

Improves energy conservation and efficiency, the legislation

Provides tax incentives for businesses and families that purchase more fuel efficient vehicles.

Provides a monetary prize for developing the first economically feasible, super-fuel-efficient vehicle reaching 100 miles-per-gallon.

Provide tax incentives for businesses and homeowners who improve their energy efficiency.

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