Comprehensive Energy Plan Will Help Tennesseans and America
September 17, 2008, WASHINGTON, DC– With record high gas prices and America’s continued dependence on foreign oil, Congressman Bart Gordon voted for a comprehensive, bipartisan energy plan Tuesday night that would help solve the pressing energy issues facing our country.
“Tennessee families are struggling with high energy costs and we must act,” said Congressman Gordon. “This legislation will not only help consumers at the pump, but also includes an energy strategy that will ultimately make America energy independent.”
The House-passed bill, the Comprehensive American Energy Security and Consumer Protection Act, increases domestic oil production by ending the ban on oil shale development on federal lands – lands estimated to contain 800 billion barrels of recoverable oil. It also ends the federal prohibition on domestic offshore drilling, opening up 319 million acres of the Outer Continental Shelf.
“These measures will help families in the short-term,” Gordon said, “but drilling alone will not solve our dependency issues.”
The bill invests $18 billion in the development and production of clean, renewable energy resources and the enhancement of energy efficient technologies. The costs of these investments are offset by revenue generated from land leases and the repeal of certain unnecessary tax credits to oil companies.
“As chairman of House Science Committee, I believe it is these investments that will solve America’s long-term energy needs,” Gordon added. “We have reached the point where we can develop the technologies needed to eventually end our reliance on petroleum-based products. Providing the necessary funding, which this bill does, is essential now.”
The Senate is currently working on its own version of an energy bill, which reportedly includes provisions similar to the House bill.
