MORE DOMESTIC ENERGY AND JOBS FOR THE AMERICAN PEOPLE

Washington, May 22, 2008 - “Increases in gasoline prices are now a daily occurrence, tearing a hole in the family budget,” said Rep. Cliff Stearns (R-Ocala). “It is within our means to increase the amount of energy we produce here in the United States, which would reduce the upward pressure on energy costs, reduce our imports, and enhance our national and economic security.”

Added Stearns, “Yesterday, the Interior Department released a report showing that 62% of oil on federal land is inaccessible for development and another 30% is restricted. In addition, it is important to note that other nations safely rely on nuclear plants for much of their electricity, including France, which derives over 70% of its electricity from nuclear plants.” Today, Stearns joined in offering seven bills removing barriers to more energy production and to promote the development of new sources (with links for the bills at the Republican Energy & Commerce Committee site).

Opening ANWR – It is estimated that the Arctic National Wildlife Refuge could provide 10 to 16 billion barrels of oil, enough to replace all of imports from Saudi Arabia. The Refuge covers 19 million acres, but only 1.5 million would be developed using advanced technology to prevent environmental damage. (http://Republicans.EnergyCommerce.house.gov/Media/File/News/ANWR.pdf)

Encouraging New Refineries – The limited refining capacity in the U.S. contributes to the high cost of gasoline and a new refinery has not been built in this nation in 30 years. This measure would streamline the permitting process for new refineries. (http://Republicans.EnergyCommerce.house.gov/Media/File/News/Expanding_Refinery_Capacity.pdf)

Creating New Sources of Oil – Repeals the ban on government purchases of oil from oil sand, shale, coal-to-liquids, and gas-to-liquids. This ban discourages developing nonconventional sources of energy. (http://Republicans.EnergyCommerce.house.gov/Media/File/News/HR_5656_Repeal_Ban_on_Govt_Fuel_Purchase.pdf)

Developing Oil Shale – Repeals the ban on developing western shale oil. Estimates place the amount of oil shale resources at 2 trillion barrels, or 3 million barrels a day. (http://Republicans.EnergyCommerce.house.gov/Media/File/News/Developing_Oil_Shale.pdf)

Rebalance Renewable Fuels Standard – Takes the pressure off of corn as a source of ethanol, which has resulted in higher food prices. Phases out the tax credit for food-based ethanol and offers tax credits for advanced biofuels. (http://Republicans.EnergyCommerce.house.gov/Media/File/News/RFS_Waiver.pdf)

Maximizing Benefits of Coal-to-Liquid Fuel – Provides loan guarantees with price limits for up to six coal liquification projects. The United States has over 25% of the world’s coal reserves, enough to meet current needs for 250 years. Technology exists for turning coal into a liquid transportation fuel. (http://Republicans.EnergyCommerce.house.gov/Media/File/News/HR_2208_Coal-to-Liquids.pdf)

Recycling Nuclear Fuel – Provides for issuance of competitive bids on long-term contracts to recycle spent nuclear fuel to reduce nuclear waste volume and the demand for more uranium. (http://Republicans.EnergyCommerce.house.gov/Media/File/News/Recycling_Nuclear_Fuel.pdf)