Washington, D.C. - {U.S. Representative Kevin Brady (R-TX) applauded the passage of a fair, comprehensive and balanced energy plan out of the House today. The nation has lacked a comprehensive energy plan for decades, leading to boom-and-bust cycles that have at times have both spurred and harmed America's economic growth.  

 

"It's long past time for America to take responsibility for our own energy needs", said Brady, who as a member of the Ways & Means Committee helped develop the $18 billion package of energy tax incentives included in the bill.

 

"A truly responsible energy bill must meet three tests: 1) Balance conservation with new technology and production, 2) encourage investment in a 21st century energy infrastructure, and 3) unlock America's incredible energy potential while preserving and protecting the environment", said Brady. "This bill meets these tests and then some."

Experts predicts the bill's emphasis on energy conservation and new technology will eliminate the need for 130 new power plants in America over the next twenty years.

For Brady, the issue is more than just economics, but rather a matter of national security.

 

 "As long as America relies on OPEC and foreign countries for nearly 60% of our daily energy, we are vulnerable. There is no responsible reason why the most prosperous nation in the world continues to allow itself to be held economically and politically hostage to other countries, as we do today."

 

"I'm excited that Washington is finally tackling the national security problem of America's addiction to foreign oil."       

Brady Provision Encourages More Geological Research

The energy bill contains a key provision pushed by Brady that simplifies how energy companies expense their geological and geophysical expenses when exploring for mineral deposits such as oil and gas. (This provision is know as "G & G expensing").

Brady believes this change has both positive production and environmental benefits by encouraging more research prior to exploration, resulting not only in fewer wells drilled but also wells with smaller footprints that disturb less of the surrounding environment. }