NAM VP energy bill to expand production, promote diversity.
Press Release Summary:
NAM Vice President for Energy and Resources Policy, Keith McCoy, issued a statement regarding legislation with bi-partisan support to expand domestic energy production and promote energy diversity. McCoy said that the American Conservation and Clean Energy Independence Act "will not only expand development on the Outer Continental Shelf (OCS), but also provide a revenue sharing scheme that will help fund carbon capture and sequestration (CCS) projects and nuclear loan guarantees."
Original Press Release:
NAM Welcomes Bi-Partisan Energy Bill to Expand Production, Promote Diversity
Access To OCS Natural Gas And Oil Will Give Manufacturing A Boost
WASHINGTON, D.C., May 6, 2009 - National Association of Manufacturers (NAM) Vice President for Energy and Resources Policy Keith McCoy today issued the following statement in response to legislation offered by Reps. Tim Murphy (R-PA) and Neil Abercrombie (D-HI) to expand domestic energy production and promote energy diversity.
Introduction of the "American Conservation and Clean Energy Independence Act" by a bi-partisan group of six lawmakers fills a void that has been largely absent in recent congressional discussions on the energy issue. This critical bill will not only expand development on the Outer Continental Shelf (OCS), but also provide a revenue sharing scheme that will help fund carbon capture and sequestration (CCS) projects and nuclear loan guarantees. This country can address its fiscal and energy challenges by expanding access to a diverse array of domestic energy sources. We must take every opportunity to tap America's own abundant energy resources to reduce our dependence on foreign oil and create jobs.
Increased access to OCS natural gas and oil will provide a badly-needed boost to manufacturing that is struggling in the weak economy. For many key manufacturing industries, such as plastics and chemicals, natural gas is both a feedstock and a source of energy. Expanded access to natural gas on the OCS will spur job creation and must be a key part of any viable energy policy.
Reps. Murphy and Abercrombie and their colleagues on both sides of the aisle have demonstrated their commitment to increasing domestic energy supply and lowering America's energy bill with their latest proposal. They recognize the contribution that development of 420 trillion cubic feet of natural gas on the OCS -- which is enough natural gas to heat 100 million American homes for 60 years -- will make toward energy independence and economic growth.
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 web site at www.nam.org for more information about manufacturing and the economy.
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