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“Soaring energy prices place an enormous financial weight on our family's budget today, far greater than any time in this nation's history.
"Energy costs now consume nearly one-fifth of the after-tax incomes of low and middle-class families – double that of just 10 years ago.
"It has come time for a national energy policy that places us on a path to independence. This is a common goal to all Americans – Republican and Democrat.
"For our economic security, our national security and environmental security we must be energy independent within the next 15 years.”
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Here is how we can do it:
America would need 9 million barrels per day to replace imports that come from countries other than Canada, Mexico and U.S. Territories to become truly independent from oil imports.
Oil Import Replacements in Roskam's Energy VISION Act:
Total: 9.5M barrels per day*
• Savings from a tax credit for trading in old cars for newer, more fuel
efficient models:
• 2M barrels per day
• Savings from replacing current conventional aviation fuel with an aviation fuel
prize winner:
• 1.5M barrels per day
• Arctic coastal plain production:
• 1.5M barrels per day
• Outer Continental Shelf production:
• 2.4M barrels per day
• Oil Shale development and production:
• 2M barrels per day
• Savings from the use of anti-idling technology:
• 100,000 barrels per day
*Estimates of savings and replacements derived from figures provided by the Energy Information Administration, the U.S. Department of the Interior, the Bureau of Land Management, the Minerals Management Service, and the Congressional Research Service
Further details of the Energy VISION Act can be found here.
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