Energy

Resources from the American Energy Solutions Group Energy Summits can be found here.

Republicans have introduced the American Energy Act (H.R. 2846), which is an all-of-the-above solution that offers energy independence, good jobs and a cleaner environment for our nation. The American Energy Act promotes new, clean and reliable sources of energy:

Nuclear:
The 104 nuclear reactors in America today provide the United States with 20 percent of its electricity and 73 percent of its CO2-free electricity, yet no new reactors have been ordered since 1978. The Republican Plan establishes a national goal to safely bring 100 new nuclear reactors online over the next 20 years to strengthen America's commitment to clean, reliable energy.

New and Expanded Technologies:
The Republican plan creates a Renewable and Alternative Energy Trust Fund to provide funding for energy programs authorized by federal law, such as biomass, hydroelectric, clean coal, solar, wind, geothermal and other forms of renewable energy. The fund will encourage the development of renewable, alternative and unconventional fuels, and new energy sources, using receipts from the new federal and oil gas leasing in the Arctic Coastal Plain and the Outer Continental Shelf (OCS).

Alternative Fuels:
The bill spurs the development of America's alternative fuels by repealing the "Section 526" prohibition on government purchasing of fuels derived from sources such as oil shale, tar sands and coal-to liquid technology. The bill also encourages the use of clean coal-to-liquid technology by allowing federal agencies to enter into long-term contracts to buy coal-derived fuel and by authorizing the Secretary of Energy to enter into loan agreements with coal-to-liquid projects.

Tax Provisions:
The bill encourages new and expanding energy technologies by making permanent tax credits for the production of renewable electricity, including wind, solar and biomass. The bill also makes permanent investment tax credits for solar energy and for fuel cell properties and extends the biodiesel and renewable diesel tax credits.

American Energy:
The Interior Department estimates that the OCS holds up to 86 billion barrels of oil and 420 trillion cubic feet of natural gas. Significant portions of the OCS remain unavailable because the current Administration continues to delay leasing activities. The bill increases the supply of American energy by immediately moving forward with a leasing program on the OCS, simplifies and harmonizes the OCS mileage restrictions, expanding state territorial waters to 12 miles offshore (most state borders stop at three miles), and gives coastal states a share of the receipts from such energy exploration. A portion of the revenues created by OCS exploration would go to a renewable energy trust fund to pay for a variety of renewable, alternative and advanced energy programs.

Conservation and Efficiency:
The bill provides tax incentives for businesses and homeowners who improve their energy efficiency. It also extends tax credits for energy efficient appliances and energy efficient upgrades made to existing homes, a tax credit for individuals who purchase a new energy efficient home and a tax credit for energy efficient commercial buildings, home energy audits and smart meters.

Visit www.GOP.gov/energy for more information and to read the complete American Energy Act.

Democrats have proposed a massive new national energy tax on virtually all Americans in the form of their cap and trade bill (H.R. 2454), which narrowly passed the House of Representatives on June 26, 2009. The Democrat "cap and tax" proposal will relocate millions of American jobs overseas and be the largest tax increase in American history:
 
Background:
The Democrats' "cap and tax" proposal would cap greenhouse gas emissions from regulated entities and require businesses to purchase permits or "allowances" for their emissions. The proposal, which imposes mandates and further regulations on manufacturers, is intended to spur a reduction of greenhouse gas emissions. Such a costly mandate will likely be passed on to consumers in the form of higher energy costs, amounting to a tax on all energy use. Such a tax increase would lead to either a devastating reduction in energy use, an erosion of the American family's budget, or both.
 
National Energy Tax:
CBO confirms that H.R. 2454 imposes a national energy tax on every household in the United States. Almost every provision in the bill increases the cost of energy directly. Even the President admits that for a “cap and tax” program to work electricity rates must "necessarily skyrocket."
 
Loss of Jobs and GDP:
Under “cap and tax" legislation, domestic manufacturing output would fall considerably. This would result in the destruction of up to 2.4 million American jobs. The Democrats' proposal would reduce economic growth, gross domestic product (GDP), and employment opportunities. Any "green" jobs created would not be enough to offset the millions of domestic manufacturing and other American jobs lost as a result of these energy taxes. Cumulative gross domestic product losses could reach $3.1 trillion by 2030.
 
Higher Gas Prices:
An American Petroleum Institute report shows that the "cost impacts {of  H.R. 2454} could be as much as 77 cents for gasoline, 83 cents per gallon of jet fuel and 88 cents for diesel fuel." The Heritage Foundation has estimated that, as a result of these increased prices, the average household will cut consumption of gasoline by 15 percent while forcing a family of four to pay $596 more in 2035, and $8,000 more between 2012 and 2035.
 
Miniscule Emissions Reductions:
Unilateral action by the United States would have virtually no impact on global emissions. Other major emitting countries such as China (the world's largest emitter of greenhouse gases) and India have clearly stated that they will not reduce their emissions. Without cooperation of countries like China and India, emissions resulting from displaced manufacturing jobs will just be moved to another area of the globe, not eliminated.