Stupak to support domestic oil drilling

NEWS RELEASE

CONGRESSMAN BART STUPAK 1ST CONGRESSIONAL DISTRICT OF MICHIGAN

************************* Stupak to support expansion of domestic oil and gas drilling

WASHINGTON - U.S. Congressman Bart Stupak (D-Mich.) announced his support for comprehensive energy legislation expected on the House floor early next week.

The Comprehensive American Energy Security and Consumer Protection Act would expand domestic oil and gas drilling on the Outer Continental Shelf (OCS) and in Alaska.

“This is a strong bill that will increase our domestic oil and gas production,” Stupak said. “It also recognizes the fact that we cannot drill our way out of our long-term energy challenges and makes the necessary investments in renewable energy sources.”

The bill would open all areas to oil and gas drilling beyond 100 miles offshore.

Between 50 and 100 miles offshore, federal restrictions on drilling would only be removed if a state legislature approves drilling off its coastline.

A federal ban on drilling in and under the Great Lakes would remain in place.

The bill also provides for increased oil and gas drilling in Alaska’s national petroleum reserve and bans the export of Alaskan oil outside the United States.

An estimated 100,000 jobs could be created through provisions that require the administration to facilitate the completion of oil pipeline infrastructure and the Alaska Natural Gas Pipeline.

Among its other provisions, the Comprehensive American Energy Security and Consumer Protection Act rolls back big oil companies’ tax breaks.

This comes at a time when oil companies enjoy record profits.

The bill also requires oil companies to pay royalties owed to taxpayers.

To end American dependence on foreign oil, the legislation invests in wind, solar and natural gas, 21st Century energy sources to create millions of jobs; responsibly opens up additional offshore areas for drilling with oil companies footing the bill instead of taxpayers; and releases oil from the government’s stockpile to bring down gas prices.

“I look forward to voting on this comprehensive bill next week,” Stupak said. “It’s the balanced energy policy American consumers deserve after eight years of the Bush administration’s failed policies that have left us more dependent on foreign oil.”

Stupak, a senior member of the House Energy and Commerce Committee and chairman of its subcommittee on oversight and investigations, is a leading voice in Congress on energy policy.

He continues to work on legislation to make price gouging a federal crime, rein in excessive energy speculation and expand renewable energy incentives to include ethanol produced from timber.

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