American Energy Act (H.R. 6566), the House GOP’s “all of the above” energy plan to lower gas prices.
Do all the above, you never know where breakthroughs will come from.
To increase the supply American-made energy in environmentally sound ways, the legislation will:
* Open our deep water ocean resources, which will provide an additional three million barrels of oil per day, as well as 76 trillion cubic feet of natural gas, as proposed in H.R. 6108 by Rep. Sue Myrick (R-NC). Rep. John Peterson (R-PA) has also worked tirelessly on this issue.
* Open the Arctic coastal plain, which will provide an additional one million barrels of oil per day, as proposed in H.R. 6107 by Rep. Don Young (R-AK);
* Allow development of our nation’s shale oil resources, which could provide an additional 2.5 million barrels of oil per day, as proposed in H.R. 6138 by Rep. Fred Upton (R-MI); and
* Increase the supply of gas at the pump by cutting bureaucratic red tape that essentially blocks construction of new refineries, as proposed in H.R. 6139 by Reps. Heather Wilson (R-NM) and Joe Pitts (R-PA).
To improve energy conservation and efficiency, the legislation will:
* Provide tax incentives for businesses and families that purchase more fuel efficient vehicles, as proposed in H.R. 1618 and H.R. 765 by Reps. Dave Camp (R-MI) and Jerry Weller (R-IL);
* Provide a monetary prize for developing the first economically feasible, super-fuel-efficient vehicle reaching 100 miles-per-gallon, as proposed in H.R. 6384 by Rep. Rob Bishop (R-UT); and
* Provide tax incentives for businesses and homeowners who improve their energy efficiency, as proposed in H.R. 5984 by Reps. Roscoe Bartlett (R-MD), Phil English (R-PA), and Zach Wamp (R-TN), and in H.R. 778 by Rep. Jerry Weller (R-IL).
To promote renewable and alternative energy technologies, the legislation will:
* Spur the development of alternative fuels through government contracting by repealing the “Section 526” prohibition on government purchasing of alternative energy and promoting coal-to-liquids technology, as proposed in H.R. 5656 by Rep. Jeb Hensarling (R-TX), in H.R. 6384 by Rob Bishop (R-UT), and in H.R. 2208 by Rep. John Shimkus (R-IL);
* Establish a renewable energy trust fund using revenues generated by exploration in the deep ocean and on the Arctic coastal plain, as proposed by Rep. Devin Nunes (R-CA);
* Permanently extend the tax credit for alternative energy production, including wind, solar and hydrogen, as proposed in H.R. 2652 by Rep. Phil English (R-PA) and in H.R. 5984 by Rep. Roscoe Bartlett (R-MD); and
* Eliminate barriers to the expansion of emission-free nuclear power production, as proposed in H.R. 6384 by Rep. Rob Bishop (R-UT).
Rep John Boehner issued the following statement.