ALEXANDER PRAISES ACCOMPLISHMENTS OF THE ENERGY POLICY ACT OF 2005

Comprehensive Energy Bill Passed by Congress One Year Ago

Posted on July 27, 2006

WASHINGTON, D.C. – U.S. Senator Lamar Alexander (R-TN), chairman of the Subcommittee on Energy, made the following statement today marking tomorrow’s one-year anniversary of congressional passage of the Energy Policy Act of 2005, which passed the House on July 28, 2005 and the Senate on July 29, 2005: “In the year since Congress passed the Energy Policy Act of 2005, we’ve made progress in bringing new sources of low carbon, clean energy into existence. “In Tennessee, there is great excitement about the law’s renewable fuels provisions, especially the extension of the biodiesel tax credit until 2008, extension of a 51 cent-a-gallon tax credit given to refiners and blenders that mix ethanol into their gasoline, and a renewable fuels standard that requires 5 billion gallons of renewable fuels in 2007 and 7.5 billion gallons by 2012. “I have held two roundtables in Tennessee on biofuels since enactment of the Energy Policy Act and found that farmers are excited about the ability of biodiesel and ethanol to raise farm incomes and lower gasoline prices while helping America become less dependent on foreign oil.”