NAM says Senator Mitch McConnell’s Flood Insurance Bill Amendment will lower energy prices and create jobs; calls it “the most sensible energy strategy on the table.”
The National Association of Manufacturers (NAM) welcomed the energy plan (S. 2958) offered recently by Senator Mitch McConnell (R-KY) as an amendment to the Flood Insurance Bill (S. 2284).
“The energy plan in Sen. McConnell’s amendment will help to diversify our fuel, lower the cost of energy, create jobs and increase America’s energy security,” said NAM President and CEO John Engler. “It’s an important step toward the comprehensive domestic energy policy that America needs for the long-term health of manufacturing and the economy.”
Engler called Sen. McConnell’s amendment “a sensible approach to America’s critical energy needs.”
S. 2958, the American Energy Production Act, would produce as much as 24 billion bbl of oil from the Arctic National Wildlife Refuge and Outer Continental Shelf, enough to supply domestic needs for five years, according to bill sponsor Pete V. Domenici (R-NM), who also is ranking minority member of the Senate Energy and Natural Resource Committee. Seventeen other Senate Republicans are cosponsors. Highlights of the bill include:
• allowing governors of states on the Atlantic and Pacific coasts to petition for leasing and have federal moratoriums and withdrawals lifted;
• repealing the $4,000 fee for onshore drilling permit applications, a 2 percent reduction of states’ shares of federal mineral royalties and a one-year moratorium on funding formulation of regulations for commercial oil shale leasing;
• granting the U.S. Environmental Protection Agency authority to accept consolidated applications for permits required to construct new refineries.
• repealing Section 526 of the 2007 Energy Independence and Security Act that bars federal agencies from contracting for alternative fuels with longer greenhouse gas lifecycle emissions than the conventional fuels they would replace;
• authorizing research to study transportation needs for renewable fuel blends, mandate that 6 billion gal of coal-derived fuels be produced by 2022, launch a study of diesel-fueled vehicles’ environmental and energy attributes, and extend U.S. Department of Defense contract limits for synthetic fuels to 25 years from 5 years.
“Manufacturers welcome Sen. McConnell’s amendment because it would encourage more environmentally responsible domestic energy production on the Outer Continental Shelf and Arctic National Wildlife Refuge and accelerate the production of advanced energy technology and alternative resources such as renewable fuel,” Engler said.
“Manufacturing is the most energy intensive sector of the economy. U.S. manufacturers are disproportionately affected by energy price instability and consume roughly one-third of our nation’s available supplies. Rising energy prices threaten the well-being of all Americans – consumers and businesses alike. We appreciate Congress finally focusing on the energy crisis. The NAM will continue to work with Members of Congress to advance practical solutions to America’s critical energy needs.”
The National Association of Manufacturers is the nation’s largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country. Visit the NAM’s award-winning web site at www.nam.org.