Thompson and GOP Colleagues Introduce American Energy Plan
Washington, D.C.—U.S. Representative Glenn `GT’ Thompson, R-Howard, today joined other members of the GOP American Energy Solutions Working Group to introduce their alternative to the proposed Cap and Trade legislation.
“We have been criticizing strongly the `Cap and Tax’ program being considered. The next step is to propose a viable alternative—and today we do just that,” said Thompson.
The measure is referred to as the “all of the above” energy plan because it encourages energy development, conservation, research and development. It gives incentives for the use of renewable and alternative energy sources and it streamlines the regulatory process for new reactor applicants for nuclear energy—a zero carbon emissions fuel. It has a goal of ordering 100 new nuclear reactors over the next twenty years.
This measure encourages exploration and development of offshore oil and gas resources by allowing revenue sharing with the states involved and then it allocates a portion of the federal revenues to the “American Renewable and Alternative Energy Trust Fund.” That money will go to fund efforts to boost conservation and efficiency and pay for the development, and to incentivize the use, of clean, renewable and alternative energy technologies.
“I believe using the carrot will be a lot more effective than the stick of the Cap and Trade legislation, which will raise energy prices by as much as 30 percent,” said Thompson.
“In Pennsylvania we are watching gas prices climb during these difficult times. This is not the time to impose a tax on energy that President Obama says will make energy costs `necessarily skyrocket.’ Our own Pennsylvania Public Utilities Commission says the Cap and Trade legislation will bring a sizeable hike in electric bills and produce, `a net loss of as many as 66,000 jobs,’” said Thompson.
“The American people deserve better and this alternative to cap and trade delivers a comprehensive energy solution this country desperately needs,” said Thompson.