U.S. House Committee on Natural Resources
May 21, 2008
ANWR Production Bill Would Provide One Million Barrels Of Oil
Each Day For In excess of 30 Years . . . And Help Fund Important
Renewable Energy Programs
Washington, D.C. - Legislation that would allow for the production of an estimated 10.4 billion
barrels of oil in a small section of northern Alaska has been introduced in the House of Representatives.
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The legislation would also use revenues from the oil and natural gas production in a 2,000-acre section
of the Arctic National Wildlife Refuge for a vast array of renewable energy programs.
"The American Energy Independence and Price Reduction Act" (H.R. 6107) was introduced
this afternoon by U.S. Representative Don Young (R-Alaska), the Ranking Member on the House Natural Resources Committee, which has jurisdiction over the ANWR issue, and U.S. Representative Roscoe G. Bartlett (R-MD).
"The vast deposits of oil in the Coastal Plain of ANWR are 's biggest untapped oil field," Young said.
"The estimated 10.4 billion barrels of oil in the Coastal Plain will provide one million barrels of oil each day for
American consumers for the next 30 years.
"With gas prices going over $4 a gallon in many places and foreign oil costing In excess of $125 a barrel, we can't afford to keep importing energy from OPEC and . We have to increase our domestic energy production to help American consumers and bolster our economic and Countrywide security - both of which are in serious jeopardy as a result of our failure to provide access to the vast supplies of untapped energy we have right here at home.
"In addition, this bill requires the strictest environmental regulations and restrictions ever to be applied to a major development plan to ensure that this is accomplished in the most environmentally safe manner possible. Using the most modern technology and these strict environmental safeguards we could have oil production from ANWR within 5 years.
"And this bill has another major benefit for the country - it uses revenues from the ANWR lease sales to fund a wide variety of 18 different renewable and alternative energy projects, including geothermal, hydro, biomass, cellulosic biofuel, wind, tidal/ocean energy, and solar power.
"All of these new energy programs have been authorized by Congress in previous energy bills but none have ever been fully funded. This bill ensures that these renewable and alternative energy programs will become reality."
ANWR Energy Provisions
· Opens ANWR and brings an additional one million barrels per day online in less than 5 years;
· Limits the footprint of oil and natural gas development to 2,000 acres;
· Requires the most advanced, commercially-available technology;
· Puts in place the strictest environmental regulations and restrictions ever to be applied to a development project;
· Establishes a Coastal Impact Aid fund to address the concerns/impacts on local Native Communities;
Alternative Energy Trust Fund
Young's bill establishes the ANWR Alternative Energy Trust Fund. Rents, bonus bids, and royalties revenue resulting from ANWR lease sales would be directed into the Fund to pay for the following renewable and alternative energy provisions authorized - but not funded - under the Energy Policy Act of 2005 (EPACT) and the Energy Independence and Security Act of 2007 (EISA):
EPAct2005 Section 210 - Biomass grants
Section 242-Hydroelectric Production Incentives
Section 369-Strategic Unconventional Fuels
Section 401-Clean Coal Power
Section 812-Solar and Wind Technologies
Section 931-Renewable Energy Grants
Section 942-Cellulosic Biofuels
Section 962-Coal & Related Technologies
Section 968-Methane Hydrates Research
Section 1704-Incentives for Innovative Technologies
EISAct2007 Section 207-Advanced Biofuels Production Grants
Section 607-Photovoltaic Cell Demonstration Plan
Title VI, Subtitle B-Geothermal Energy
Title VI, Subtitle C-Marine and Hydrokinetic Energy
Section 641-Energy Storage Competitiveness
Title VII, Subtitle A-CCS R, D&D
Section 1112-Capital Grants for Class II & III RRs
Section 1304-Smart Grid Technology R, D&D
