The American Energy Act: Supply Side Solutions
Congressman John Boehner of Ohio is set to introduce The American Energy Act, which will most importantly increase America's energy supplies. The bill calls for leasing regulations for offshore natural gas by 2010, removing restrictions for outer continental shelf drilling, and opening up sections of ANWR for drilling.
The Heritage Foundation's Senior Policy Analyst Ben Lieberman has been arguing this even when gas prices were around $1 a gallon. More energy supplies, not more taxes and regulations, are what this country needs. It's economics 101: expanding supply is the surest way to lower energy prices, and the quicker Congress moves to open up restricted areas, the quicker more resources will be available.
As my colleague Michael Franc writes, it is the first time in awhile House Republicans are leading the charge on producing more in America here at home. Now that gas prices are surpassing $5 a gallon in some states, consumer pressure is causing a number of Members to switch their stance on drilling. (more)Nick Loris
Friday, July 25, 2008
Republicans Lead Efforts to Increase American Oil Production
The National Republican Congressional Committee is continuing efforts to pressure the Democrat Majority to vote on increasing the supply of American oil. House Republican Leader John Boehner and 10 freshmen GOP lawmakers returned from a trip to Alaska to see for themselves the area referred to as ANWR, where there are an estimated 10 billion barrels of American oil, according to the NRCC.