Energy
Energy
We need to increase the supply of all forms of energy right here at home. That is why I introduced the “No More Excuses Energy Act of 2011 (H.R. 1023),” which encourages responsible domestic energy production in the United States. Regulations have gotten the best of us. We have made it too difficult to build refineries and new power plants, and we have put much of the country off-limits to energy development. This bill takes some common sense measures to help increase the supply of energy and, with time, would also help ease the price squeeze Americans are feeling at the gas pump. H.R. 1023, the “No More Excuses Energy Act of 2011,” includes provisions that: • Encourage new refinery construction by allowing tax exempt bonds to be used for construction of certain refineries and making federal lands available for refinery construction. • Open the Arctic National Wildlife Refuge in Alaska to responsible drilling, potentially producing nearly a million barrels per day. • Remove the congressional moratorium on drilling for offshore oil and gas in the Eastern Gulf of Mexico. • Remove the effective Presidential moratorium on areas that were withdrawn from leasing. • Encourage production of onshore natural gas produced from wells more than 15,000 feet deep. • Encourage investment in a much-needed industrial base for building new nuclear power plants by reducing the tax burden on that industry. • Boost alternative energy development by extending the Wind Production Tax Credit (PTC) for 10 years. • Prevent the Environmental Protection Agency (EPA) from regulating greenhouse gases under the Clean Air Act (CAA). • Repeal the minimum capture requirement for the CO2 sequestration credit in order to help smaller facilities qualify for the credit. This credit applies to permanent storage and CO2 used as a tertiary injectant for enhanced oil or natural gas recovery. • Make the excise tax on Liquefied Natural Gas (LNG) and diesel comparable on an energy-equivalent basis and extend the Alternative Fuel Credit through 2012. This credit applies to liquefied petroleum gas, P Series Fuels, compressed or liquefied natural gas, any liquid derived from coal through the Fisher-Tropsch process, and compressed or liquefied gas derived from biomass. It does not include ethanol, methanol, or biodiesel. Press Releases | Opinion Pieces | In the News | Committee Statements | eNewsletters | Photos Email | eNewsletter | Facebook | Twitter | Google + | Tumblr | Mac’s Blog | YouTube | Video Mailbox | Flickr Related Documents:
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House passes domestic energy package
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