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(Washington,
D.C.) Congressman Tim Ryan late Tuesday evening voted in favor of the
Comprehensive American Energy Security and Consumer Protection Act, an energy
bill drafted by House Democrats that would help end our dependence on foreign
oil, lead to reduced gas and energy costs and launch a renewable energy future
that will provide new American jobs. The bill also repeals legislation passed
four years ago and closes a significant tax loophole that America’s largest oil
companies used to their advantage. The bill passed the House of Representatives
by a vote of 236-189.
HR
6578 also releases from the Strategic Petroleum Reserve nearly 10 percent of the
oil from the government’s stockpile and replaces it later with heavier, cheaper
crude oil. In the past, this has reduced energy prices by one-third.
“Finally,
the American people will know that it was this Democratic-led Congress that
fought for and passed a comprehensive energy policy that included offshore
drilling,”
said Congressman Ryan. “This bill will reduce our dependency on foreign oil
and bring down gas and energy prices as well as provide incentives for new types
of hybrid cars, energy efficient homes, buildings, and
appliances.”
In seeking a workable compromise on drilling, the bill opens
up over 320 million acres of land on both the Atlantic and Pacific coasts where
drilling is currently not permitted and gives states the right to decide the
issue. This provision expands oil available by at least 2 billion barrels of oil
– nearly four years worth of the oil produced offshore in America and enough to
power 1 million cars for 60 years. It also makes available enough natural gas
to heat six million homes for over 42 years.
This is a real compromise effort on a comprehensive energy
solution. As with all compromises, it requires both sides to give. In return
for a responsible opening of more offshore areas for drilling, our bill requires
oil companies to pay their fair share so we can make a historic commitment to a
renewable energy future and jobs. The bill puts us on the path toward energy
independence, protects consumers, strengthens our national security, and helps
reduce global warming – bipartisan goals and key ingredients to a comprehensive
national strategy.
The Senate is working on a comparable compromise, and if
Republicans in Congress and the White House will work in good faith, we can
enact real solutions on the number-one issue facing America’s families and
businesses.
“We've
had an oil crisis in this country for 35 years and we can’t wait ten more. This
bill is comprehensive and balanced, and the American people will benefit from
lower energy costs as we put our nation on a sustainable path to energy
independence.”
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