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Contact: Cameron Hardy
202-224-6441 |
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Energy PRICE Act Tackles High Fuel Prices
Thomas seeks serious solutions to high fuel prices, energy independence |
 listen to Radio Clip
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| U.S. Senator Craig Thomas (R-Wyo.) talks to reporters on March 7, 2006 about coal-to-liquids technology during a press conference in the United States Capitol following the Senate hearing about energy independence. |
May 5th, 2006 - WASHINGTON – With an aggressive approach to improve our domestic energy supply and lower fuel costs, U.S. Senator Craig Thomas today introduced the Energy PRICE Act of 2006, S. 2755.
“This plan lays out commonsense energy provisions to increase supply and better our infrastructure to lower fuel prices,” Thomas said. “This solid foundation of energy proposals builds upon the best ideas my colleagues and I set out in the Energy Policy Act of 2005.”
“We’re looking at conservation, efficiency, refining, and production measures. I’m serious about improving our nation’s energy outlook and so are my colleagues whose provisions are included in the package.”
Thomas conferred with a number of other senators and sought the inclusion of their proposals in support of the overall package in addition to his own provisions.
“Nobody is going to change fuel prices overnight – and the same folks who have defeated measures like these in the past are the real cause of high prices,” Thomas said.
Here is a snapshot of S. 2755:
The Energy PRICE Act of 2006
To enhance the energy production, refining, infrastructure, conservation and efficiency of the United States
Title I – Production
- Open ANWR to oil exploration and production of 1 million barrels a day
- Incentives for Enhanced Oil Recovery using carbon dioxide injections
- Provides long-term contract authority for coal-to-liquid fuel purchases by DOD
Title II – Refining
- Revises the process for issuing permits for the construction and operation of a refinery
- Holds states harmless in the event that they must issue an emergency environmental waiver
- Reduces the number of boutique fuel blends
- Creates an R&D; program for Fischer-Tropsch fuel development
- Allows companies to expense refinery construction and expansion
Title III – Infrastructure
- Treats certain pipelines as 5-year property for the purposes of accelerated depreciation
- Allows the use of tax-exempt bonds to finance electric transmission and pipeline infrastructure
- Repeals a provision from the 2006 Transportation bill that blocks an LNG terminal in MA
Title IV – Conservation & Efficiency
- Imposes additional requirements for improving passenger automobile fuel economy
- Establishes grants for an EPA program to reduce oil & gas industry methane emissions
- Requires EPA workshops for state officials on methane emission reduction techniques
View the full bill text.
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