Energy

The BOLD Energy Bill

Energy Security Summit
Comprehensive Energy Policy
      Keeping Fuel Prices Affordable
      Promoting Clean Coal Technology
      Increasing Bio-fuels Production
      Greater Use of Wind Power
      Ensuring Affordable and Reliable Electricity for North Dakota
      Powering Rural North Dakota
      Conservation and Energy Efficiency

Energy Security Summit
Currently, the United States imports about 60 percent of its oil. The Department of Energy predicts that this dangerous level of dependency will continue through 2025. Much of this oil comes from unstable regions of the world. Concerns about foreign instability have been one of the reasons North Dakotans are seeing such high prices at the pump.

In March 2005, Senator Conrad convened his Energy Security Summit, a national conference of energy leaders, at the University of North Dakota. The Summit drew energy experts, industry leaders and policymakers from around the country. During the two-day Summit, Senator Conrad formed his Energy Executive Advisory Board. This group of energy leaders agreed to develop a plan to put North Dakota’s resources to work making our country more energy independent.

Comprehensive Energy Policy
Senator Conrad supports the development of a comprehensive national energy plan to ensure that North Dakotans and all Americans have access to secure sources of affordable energy. In addition to voting for the Senate Energy Bill in 2005, Senator Conrad is fighting on behalf of North Dakota on a number of other important energy issues, including:

Keeping Fuel Prices Affordable:
Senator Conrad is concerned about the impact of high fuel prices on North Dakota families. He has consistently supported releasing oil from the Strategic Petroleum Reserve when oil prices get too high. In 2000, Senator Conrad introduced the Domestic Energy Security Improvement Act. This legislation keeps energy prices lower through incentives to increase domestic oil production, promote greater use of renewable energy such as bio-fuels, and improve energy efficiency. Senator Conrad also supports pressuring OPEC to increase oil production to keep prices affordable for all U.S. consumers.

Promoting Clean Coal Technology
The earth underneath North Dakota contains enough lignite coal to generate electricity for more than 800 years. North Dakota’s lignite coal industry has created some of the best-paying jobs in North Dakota, raising the quality of life in our home state. Senator Conrad is a champion of clean coal technology, which improves power plant efficiency, reduces emissions, and preserves North Dakota’s pristine air quality. As a member of the Senate Finance Committee, Senator Conrad has developed tax incentives for the research and development of clean coal technology.

Increasing Bio-fuels Production
Bio-fuels carry tremendous potential to reduce our nation’s dependence on foreign oil. These renewable fuels also offer tremendous economic potential for North Dakota, which is home to many fuel-producing crops, including canola, corn, and soybeans. Senator Conrad has long fought for legislation requiring greater use of bio-fuels, such as ethanol and bio-diesel. He has backed legislation to double the nation’s use of bio-fuels by 2012. For example, he succeeded in keeping ethanol and bio-diesel tax credits in the 2004 JOBS Act.

Greater Use of Wind Power:
North Dakota is ranked number one in the nation in potential wind-power production. Developing North Dakota’s extraordinary potential for wind energy is one of Senator Conrad’s most important energy policy goals. From the start of his Senate career, Senator Conrad has been a leader in passing the wind energy production tax credit, and creating opportunities for farmers and ranchers to develop wind energy. This tax credit is crucial for the wind energy industry to compete with other energy sources. In 2002 and 2005, Senator Conrad introduced legislation to extend the production tax credit for five years.

Ensuring Affordable and Reliable Electricity for North Dakota:
Improving our nation’s power grid will mean that all Americans have access to affordable and reliable electricity. Improving the transmission grid would give North Dakota the ability to export electricity generated from resources like wind and coal to distant markets. Senator Conrad has supported energy legislation designed to spur new investments in electric transmission lines.

Powering Rural North Dakota:
Senator Conrad has taken action to make sure that rural electric consumers continue to receive cheap, reliable power. In 2002, Senator Conrad oversaw Senate passage of a provision allowing co-ops to use tax credits that help pay the costs of developing renewable energy sources. In 2004, Senator Conrad succeeded in writing a provision in the JOBS Act that would allow rural electric co-ops to diversify their assets – strengthening their finances – without losing their non-profit and tax-exempt status. He also protected many North Dakotans from dramatic electricity price increases by preventing unfair changes to Power Marketing Administrations.

Conservation and Energy Efficiency:
We need a national energy policy that balances energy production with increased conservation, efficiency, and development of alternative energy sources. Senator Conrad has consistently supported tax incentives to reward energy efficiency. Greater efficiency for our nation’s power plants, automobiles, and appliances saves money for all Americans in the long run. Greater efficiency also conserves our natural resources for future generations and makes America less dependent on foreign countries to meet our energy needs.