This will be fun to watch...beg OPEC to produce then write a law limiting their imports. This is beyond fricking crazy
US Congress Considers Bill to Cut Oil Imports
From Constance Ikokwu in Washington, D.C., 04.10.2009
The United States government is forging ahead with concrete steps to wean the country of heavy dependence on foreign oil by releasing a draft of new clean energy legislation put together by Congress.If the legislation is passed into law, major suppliers of oil to the country such as Nigeria and Saudi Arabia will be affected. Nigeria exports almost half of its total crude oil production to the US, which is Nigeria’s biggest customer.
Announcing the legislation on Capitol Hill, Chairman of the Energy and Commerce Committee, Henry A. Waxman, and Chairman of the Energy and Environment Subcommittee, Edward J. Markey, observed that the law would end US “dangerous” dependence on foreign oil, create jobs and combat global warming.
Named “The American Clean Energy and Security Act of 2009 (ACES)”, the legislation is presented as a comprehensive approach to US energy policy.
“This legislation will create millions of clean energy jobs, put America on the path to energy independence and cut global warming and pollution,” remarked Waxman.
“This legislation will create clean energy jobs that can't be shipped overseas, reduce our dependence on foreign oil and make America a global leader in energy technology,” added Markey.
Markey further stated that “We will create jobs by the millions, save money by the billions, and unleash energy investment by the trillions.”
In order to achieve the stated goals, the bill has four titles namely:
1. A clean energy title that promotes renewable sources of energy, carbon capture and sequestration technologies, low-carbon fuels, clean electric vehicles, and the smart grid and electricity transmission;
2. An energy efficiency title that increases energy efficiency across all sectors of the economy, including buildings, appliances, transportation, and industry;
3. A global warming title that places limits on emissions of heat-trapping pollutants;
4. A transitioning title that protects U.S. consumers and industry and promotes green jobs during the transition to a clean energy economy.
The high price of oil last year rattled US consumers and prompted a fresh debate on energy independence. At its peak, oil sold for $147 per barrel in July 2008. The nationwide average for a gallon of gasoline spiked to $4, provoking outrage.
The Energy and Commerce Committee is expected to complete consideration of the new legislation by US Memorial Day, May 25. |
