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McKeon Touts Republican's Energy Plan

He hopes gas prices will fall as a result.ImageRep. Howard P. “Buck” McKeon (R-Santa Clarita) issued the following statement after House Republicans rolled-out their plan to reduce gas prices.  The plan encourages American oil independence, alternative fuel production, and conservation.

 

 “Today’s record-high fuel prices are putting the squeeze on all Americans’ pocketbooks.  In California today, the average price for gasoline at the pump is an astounding $3.98 per gallon.  Whether through the ‘Pelosi Premium’ being paid at the pump or its ripple effect through the economy in the form of higher prices on food and household goods, Americans need a  common-sense solution to the problem; and that’s precisely what Republicans unveiled today.

 

 “Republicans recognize that hardworking Americans need relief, and that’s why we have outlined an ambitious agenda to increase American-made energy, bring down gas prices, and move toward energy independence.”

 

How Republican Solutions Will Fix It:

 


Sponsored By:

Triumph Foundation

The Change America Deserves: Meeting Our Energy Needs with American Made Energy.

The comprehensive House Republican plan will fund research and development of technologies and innovations which advance the use of renewable and domestically available energy sources, increase energy efficiency, and ease the environmental impacts of energy use.

 

1)    Increasing the Production of American-Made Energy in an Environmentally-Safe Way

  • Support actions that reduce America’s dependence on energy from unstable foreign governments and dictatorships by increasing environmentally-safe production of oil and natural gas in areas such as the arctic coastal plain and in deep ocean energy resources; and
  • Promote unconventional fuels such as coal-to-liquids technology and recovering our vast oil shale reserves by:
  • Increasing access for environmentally responsible development of conventional and unconventional domestic oil and natural gas production;
  • Providing coal-to-liquids financing and tax incentives;
  • Advancing the commercialization of the nation’s two trillion barrel shale oil resource, 80 percent of which occurs on government-owned land in the West.  This is enough to supply all of America’s needs for over two centuries.

 

2)    Promoting New, Clean, and Reliable Sources of Energy

  •  Encourage more production of environmentally-safe energy to increase the use of our vast domestic supply, reduce emissions, and keep coal-dependent communities strong; and
  • Expand emissions-free nuclear power, including long term nuclear waste storage solutions and recycling spent fuel by:
  • Providing production and investment tax credits for all new base-load electricity projects such as advanced nuclear power and clean coal; and
  • Allowing immediate expensing for new renewable or zero emission power.

  

3)     Cutting Red Tape and Increase the Supply of American-Made Fuel and Energy

  • Expedite permitting for enhanced oil recovery projects, including CO2 delivery and injection, as well as permitting for new refining capacity;
  • Improve environmental review and permitting to encourage the deployment of technologies which increase the efficiency of existing power plants; and
  • End ill-advised policies that have led to the proliferation of unique gasoline and diesel fuel formulations known as “boutique fuels,” which have fragmented our motor fuels distribution system, choked off supply, and exacerbated the already-painful Pelosi Premium.

  

4)      Encouraging Greater Energy Efficiency by Offering Conservation Tax Incentives

  • Support technologies to help increase energy efficiency in all sectors of the American economy, including removing bureaucratic regulatory barriers that prevent businesses from upgrading their facilities with newer, more efficient energy technologies, by:
  • Making home energy efficiency upgrades tax deductable;
  • Providing incentives for home builders and homeowners to make their homes more energy efficient;
  • Offering investment expensing for industrial and commercial building efficiency upgrades;
  • Extending the residential and business solar and fuel cell investment tax credits, with enhancements to the residential solar credit ($2,000 per ½ kw installed);
  • Extending the fiber-optic distributed sunlight investment tax credit; and
  •  Increasing the energy efficiency of government-owned buildings.

 

NOTE: For more information on the House Republican energy plan, please click here; and for nationwide breakdown of gas prices as supplied by AAA, please click here.