KEEPING COSTS LOW
- Transitioning off foreign oil and creating millions of jobs will have minimal impact on average households—just 22 to 30 cents a day—less than a postage stamp – or $80 to $111 per year [EPA]. The bill helps all consumers with price spike protection, and with additional monthly energy refunds so those in need will see no cost.
- Investing in energy efficiency technology will save the average American household more than $4,000 by 2030 [ACEEE].
- Ensuring fiscal responsibility. CBO says the bill meets PAYGO requirements and will not increase the deficit.
MAKING US MORE ENERGY INDEPENDENT
- Cutting our use of foreign oil by more than 5 million barrels a day in 2030 – as much as we currently import from the Middle East and Venezuela – when combined with vehicle efficiency and biofuel standards enacted in 2007 and updated by President Obama.
- Promoting all forms of American clean energy, including: wind, solar, geothermal, biomass; support for private investments in nuclear power; new clean energy and energy efficiency technologies; advanced coal technology with carbon capture and sequestration; and efficient vehicles.
- U.S. consumers are exporting $400 billion a year to pay for foreign oil. Over half of the oil we use is imported from foreign countries (57% in 2008), up from 27 percent in 1985 and 51 percent in 1999.
- America’s energy bill will increase by $420 billion annually within the next 5 years if we do nothing to reduce our dependence on oil and fossil fuels. That amounts to $3,500 annually for every family in the nation. [NRDC]
- The bill will cut the use of oil and petroleum products by 1.4 million barrels a day in 2030. [ACEEE]
- The American Clean Energy and Security Act – combined with the 2007 energy bill and the Obama Administration’s plan to ramp up vehicle fuel efficiency standards – will cut the use of oil by more than 5 million barrels a day in 2030. That is equivalent to all the oil we currently import from the Middle East and Venezuela and one-fourth of our nation’s current total daily consumption - and will save consumers more than $135 billion in fuel costs.