House Passes Bill to Overhaul Federal Energy Policy
In addition to cost, another problem facing the energy industry is the Obama administration’s overreaching rules and regulations which are preventing the energy sector from growing. I believe the U.S. should have an all of the above energy policy driven by free market principles, which is why I voted in favor of the North American Energy Security and Infrastructure Act. The bill updates federal energy laws for the first time in eight years. From natural gas to nuclear to solar to wind, the U.S. needs to look into every opportunity to become energy independent and keep heating, fuel, and electric bills as low as possible for American families.
Another important part of this bill is lifting the crude oil export ban. Forty years ago, Congress enacted the crude oil export ban to insulate domestic American energy consumption against Arab oil embargos. However, America has now become the number one producer of oil and gas in the world, and is well on the path to energy independence. Experts say allowing American companies to sell that oil abroad will bring more money into the American economy and reduce gas prices up to 13 cents per gallon.