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Vitter Introduces Amendments to Energy Speculation Bill
 
July 23, 2008 -  Untitled Document

(Washington, D.C.) – U.S. Sen. David Vitter today introduced several amendments to the Stop Excessive Energy Speculation Act, which is currently being debated in the U.S. Senate.  Vitter offered the amendments in an effort to alleviate the ever-increasing gas and energy prices that have placed an undue burden on hundreds of thousands of American families.

        “As energy prices continue to climb each day, so does the strain on American families,” said Vitter.  “We are long past due to take some real action to help reduce the impact that these energy prices continue to have on families throughout America, and it is my hope that the majority party will allow for an open debate on these amendments.”

        The first of the amendments is based on Vitter’s Energy Needed Offshore Under Gas Hikes (ENOUGH) Act, and allows for increased domestic production of oil and gas on the Outer Continental Shelf when a governor, with the concurrence of the state legislature, petitions the Department of Interior to lift the federal ban on energy development off its own coast.  A second and third amendment would repeal Congressional moratoriums on offshore leasing activities on the Outer Continental Shelf and on the final regulations regarding the development of oil shale.

        “If we are truly serious about reducing our dependence on foreign oil, then we must be serious about using the resources that we already have in place,” Vitter said.  “We are nearing an energy crisis, and it is difficult for people around the world – let alone here at home – to understand why we are leaving these resources untapped as our national demand continues to grow.  These amendments address our nation’s dual needs to increase energy production and to explore alternative forms of energy.”

        Another of Vitter’s amendments would establish a grant program for offshore alternative energy production utilizing existing energy infrastructure.  Vitter also filed amendments that would streamline current permitting processes relating to expansion of refinery capacity and offshore leasing and provide equity to all Gulf States by extending the seaward boundaries of Louisiana, Mississippi, and Alabama from three miles to nine miles to equal those of Florida and Texas.

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