Bipartisan group “Gang of 10″ unveil energy plan
Ten Senators, Five Democrats and five Republicans, whom they call themselves the Gang of 10, have come up with a bipartisan energy plan. The plan includes:
An area of the Gulf of Mexico, 50 miles off Florida’s coast, would be open to drilling; and Virginia, the Carolinas and Georgia could decide whether to allow drilling 50 miles off their shorelines.
The Senators have decided that lifting the ban on the California coast or to open Alaska’s Arctic National Wildlife Refuge to energy exploration would likely complicate passage of the plan.
The group of Republicans agreed to repeal a key oil industry tax break and force oil companies to pay billions in royalties to the U.S. Treasury for drilling in the Gulf of Mexico.
An estimated $30 billion that would be paid by the oil companies over 10 years would help fund initiatives such as $7.5 billion to help U.S. automakers expand the production of alternative-fuel vehicles. Funding also would be provided for tax credits to encourage consumers to buy more fuel-efficient cars and for extending tax credits to promote energy efficiency and cleaner energy sources, such as sun and wind power.
I support every aspect of the plan, I wish they would agree on ANWR but you can’t have everything I guess. It is so important for us to become energy independent. We can no longer send billions of dollars overseas to support our energy needs, we need to keep that money in our country and in our economy.
Read the full L.A. Times story.
Related Posts
- Barack Obama willing to open new areas for oil drilling
- THE GAS PRICE REDUCTION ACT OF 2008
- Democrats voted down oil production bill
- Do you know what the Destin Dome is?
- Oil companies benefitting from tax subsidies and record profits
Tags: alaska, Arctic National Wildlife Refuge, california, Democrats, energy plan, gang of 10, gas prices, georgia, gulf of mexico, north carolina, Republicans, south carolina, virginia
Favorite Me
Follow Me
Subscribe
Loading ...
August 8th, 2008 at 1:32 pm
The republicans should not give much, if anything, to the demos. repubs hold the cards here. not the demos. No new taxes on oil cos. (who do they think will pay those taxes? Mr. consumer, of course! no new tax credit for “fuel efficient” cars. that money ends up in the orient. let the people pick the cars they want considering the circumstances. Anwar should be in the mix, and so should calif. that’s a fairness issue to the balaance of the 50 states. finally if mccain will just get his but in gear about this, and the rest of the R party, it will play out to their benefit come novermber.