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Comprehensive National Energy Policy
On August 8, 2005, President Bush signed the Energy Policy Act of 2005 into law. The Act is designed to spur domestic energy production, increase efficiency, modernize our electricity grid and energy delivery system, and invest in workable energy alternatives.
Implement the Energy Policy Act of 2005 and advocate for additional actions to ensure the development and deployment of affordable, reliable energy supplies that promote energy, economic, and national security.
Summary of the Issue
Energy is the lifeblood of the economy. U.S. economic prosperity is closely tied to the availability of reliable and affordable supplies of energy. However, since 1973, U.S. energy production has grown only 13%, while U.S. energy consumption has increased 30%. Even when increases in efficiency are taken into account, significant increases in demand are projected.
After attempts in the previous two sessions of Congress, the 109th Congress successfully passed the Energy Policy Act of 2005 on July 29, 2005, and President Bush signed the act into law on August 8, 2005.
As a co-founder of the Alliance for Energy and Economic Growth (Alliance), the U.S. Chamber has long been recognized as a leader in advocating a comprehensive national energy policy. The legislation adopted by Congress and signed by the president incorporates the key components of a comprehensive energy policy, which include:
- increasing energy efficiency and conservation;
- ensuring adequate energy supplies and generation;
- renewing and expands the energy infrastructure;
- encouraging investment in new energy technologies; and
- ensuring appropriate consideration of the effects of regulatory policies on energy supplies.
While the Energy Policy Act of 2005 is a critical first step, much work remains to be done. For example, the act does not contain provisions necessary in the short term to reduce oil and natural gas prices. Such provisions would include streamlined permitting requirements for refinery expansion and construction, enforceable measures to reduce the proliferation of boutique fuels, and provisions allowing for increased production of domestic oil and natural gas resources in areas such as the Outer Continental Shelf and the Arctic National Wildlife Refuge.
U.S. Chamber Strategy
- Ensure that the act's agency directives are implemented promptly and include stakeholder participation at the earliest possible opportunities.
- Educate businesses about the innovative energy technology development and deployment opportunities contained in the act.
Staff Contact Information
Environment, Technology & Regulatory Affairs Division