Energy
New Bill Makes Strong Bipartisan Statement For Domestic Energy Production
By goHTSN Staff
Feb 21, 2008, 17:41

Golden, CO — Feb. 21, 2008 — Americans for American Energy today praised U.S. Representatives Devin Nunes (R-CA) and Mike Ross (D-AR) for introducing bipartisan legislation that supports domestic energy production as a way to increase the nation's energy security.

Nunes and Ross today unveiled their bill, the "American-Made Energy Act of 2008." It advocates the extension and expansion of current tax credits for alternative and renewable energy sources, as well as increased exploration of areas that contain vast resources of oil and natural gas.

"Congress has consistently failed to enact the reforms necessary to provide our nation long-term energy security and the only way to achieve this important goal is bipartisan cooperation," said Nunes. "The 'American-Made Energy Act' is the result of such cooperation."

"This bill is another step in the right direction for America," said Greg Schnacke, President and CEO of Americans for American Energy, a nonprofit group dedicated to educating the public and policymakers about the need for domestic energy production to move the United States toward energy independence. "It's great to see this bipartisan spirit of cooperation among our lawmakers. It's time Congress recognized the need for policies that support domestic energy production, legislation that will lessen our dependence on foreign oil.

"Groups that work against domestic production must recognize that they're helping the cause of terrorists. The more energy we buy from overseas, the more money goes to countries that in many cases are openly hostile to America. That money finds its way into the hands of terrorists, and in effect subsidizes those who want to do us harm. We have the energy resources at home to end that vicious cycle."

Nunes, a member of the House Ways and Means Committee, and Ross, a member of the House Energy and Commerce Committee and the Energy and Air Quality Subcommittee, said their bill is designed to support "significant investments in alternative and renewable energy, and encourage increased domestic fuel production to address our nation's failed energy policies and rising gas and electricity prices."

"Every year, America becomes increasingly dependent on foreign oil. Some of that oil comes from our enemies, including Venezuela and Iran. Congress knows that this dependence is dangerous and the American people expect us to act," said Nunes. "We have the ingenuity and resources in the United States to produce all of the energy we need. If Congress moves forward with the 'American-Made Energy Act,' we will witness this potential become reality."

"America has been dependent on foreign oil far too long and we must begin to develop our own energy resources," said Ross. "Securing America's energy future and putting substantive policies in place to drive down our soaring energy costs requires a multi-faceted approach, which consists of increasing our domestic energy production, encouraging the use of alternative and renewable energy sources, promoting conservation, utilizing energy efficient technologies and helping our working families who are being strained by ever-increasing energy prices."

Nunes and Ross' bill backs many of the energy projects supported by Americans for American Energy, including the development and use of alternative fuel vehicles through consumer tax credits. The bill also promotes coal-to-liquids fuel production and supports renewable electricity production. It also expands the tax credit for electricity from agricultural waste.

The bill also supports opening up the Outer Continental Shelf and ANWR for exploration utilizing environmentally friendly technology. It promotes the extension and expansion of tax credits for development of biofuels, along with investments in solar and fuel cell technologies.

The bill backs nuclear energy by creating an investment tax credit to build new nuclear facilities, with a goal of 40 percent of our nation's electricity produced from nuclear sources by 2050.

The legislation also supports energy efficiency. It would extend and modify the new energy efficient home credit, and the energy efficient commercial buildings deduction.