Monday, August 04, 2008

The New Energy Reform Act of 2008 (New ERA)

A bipartisan group of 10 senators are cosponsoring New Energy Reform Act of 2008 in hopes of breaking the Senate deadlock on energy legislation. The legislation, which could be considered when Congress returns in September, includes limited offshore drilling with increased investment in new energy technologies. A portion of the finding for renewables would come from taking back tax breaks from the oil industry. The bill also sets a goal of fueling 85 percent of the country's automobiles with alternatives to oil within 20 years.

The group, calling itself the "Gang of 10," is led by Senator Kent Conrad and includes five Democrats and five Republicans: Sens. Saxby Chambliss (R-Ga.), Kent Conrad (D-N.D.), Bob Corker (R-Tenn.), Lindsey Graham (R-S.C.), Johnny Isakson (R-Ga), Mary Landrieu (D-La.), Blanche Lincoln (D-Ark.), Ben Nelson (D-Neb.), Mark Pryor (D-Ark.), and John Thune (R-S.D.). The goal of the bill is to reduce our dependence on foreign oil.

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