Rep. Cole Co-Sponsors the American Energy Act
Bill would Lower Energy Costs and Invest in New Energy Sources
WASHINGTON – Congressman Tom Cole (OK-04) made the following statement today after becoming a co-sponsor of the American Energy Act.
"One of my top priorities in the 111th Congress is to make sure Congress implements comprehensive energy legislation that will curb the rising costs of fuel and energy prices," Congressman Cole said. "The American Energy Act takes an important step in accomplishing that goal. We are in a global economic slump and our economy cannot recover if it is crippled by sky-rocketing energy costs. I am in favor of an all-of-the-above approach that would lower energy costs, open areas for energy exploration, provide incentives for driving fuel efficient cars and invest in alternative fuel sources."
"The American Energy Act would allow us to invest in innovative energy sources such as nuclear and solar power. Instead of adding duplicative energy taxes that would cause prices to soar even higher, the plan that I support would lower costs and take steps towards energy independence. In addition, this bill will provide important tax incentives for alternative fuel, hydrogen cell, and plug-in vehicles. These vehicles perform double-duty - they curb pollution and reduce our dependence on foreign oil."
The American Energy Act is a comprehensive plan introduced by members of House Republican leadership. The plan will invest in new energy sources and open areas, such as the Outer Continental Shelf and Arctic Coastal Plain, for energy exploration. The Act would create 100 new nuclear reactors and invest money into clean coal, wind and solar technology. For more information about the American Energy Act, please visit www.gop.gov/energy.