"This Energy Bill makes progress toward increasing supply, decreasing demand, and reducing our reliance on foreign fuels," Senator Collins said. "While the bill includes a number of provisions that I authored to increase renewable energy, reduce our reliance on foreign energy, and lower gasoline prices, I am disappointed that the bill included a provision to allow for oil surveying on the outer continental shelf. I am further disappointed that the bill did not include the increase in fuel economy standards which I supported. I am, however, pleased that the bill includes my provision requiring the Department of Energy to develop and use cost-effective procedures for filling the U.S. Strategic Petroleum Reserve. At a time when oil prices are at an all-time high, it makes no sense at all for the federal government to put further pressure on supplies through large purchases for the SPR, without at least looking at the potential impact on prices and consumers."
Senator Collins sponsored the following provisions that were included in the Senate Energy Bill:
• Collins-Bingaman-Coleman Renewable Portfolio Standard – Requires that 10% of our electricity comes from renewable energy sources by the year 2020. This provision will reduce the amount of natural gas that is needed for electricity, therefore reducing natural gas prices. This could help turn renewable energy into a valuable export business for Maine.
• Collins-Levin Strategic Petroleum Reserve (SPR) – Directs the U.S. Department of Energy (DOE) to develop and use cost-effective procedures for filling the SPR. It requires DOE to maximize the overall domestic supply of oil in private and government inventories while minimizing costs to taxpayers for acquiring SPR oil, consistent with national security.
• Collins-Landrieu-Specter – Directs the Administration to save one million barrels of oil per day by the year 2015. This provision will reduce greenhouse gas emissions and our reliance on foreign oil.
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