Cruz/Bridenstine American Energy Renaissance Act
Cruz/Bridenstine American Energy Renaissance Act - Topline Summary
I. Stop Federal Hindrance of American Energy Renaissance and Related Jobs.
Prevent Federal Regulation of Hydraulic Fracturing.
- Leave regulation of hydraulic fracturing in state hands
Improve Domestic Refining Capacity.
- Streamline the permitting process for upgrading existing and building new refineries
- Repeal (with phase out) the Renewable Fuel Standard
Improve Process to Develop Energy Infrastructure.
- Approve and allow private sector to build the Keystone pipeline
- Remove barriers to developing and approving additional national pipelines and cross-border energy infrastructure
Stop EPA Overreach and the War on Coal.
- Exclude greenhouse gases from regulation by EPA and other federal agencies
- Stop certain EPA regulations that will adversely impact coal and electric power plants
Force Congress and the President to Vote on EPA Regulations that Kill Jobs.
- Require Congress and the President to approve EPA regulations with negative job impacts
- Support passage of the REINS Act (not included in this bill) to require congressional approval of all major rules and regulations
II. Expand Energy Development to Allow for More Private Sector Jobs.
Broaden Energy Development on Federal Land.
- Expand energy development on federal lands by providing states the option of leasing, permitting and regulating energy resources on federal lands within their borders
- If states decline, reform federal leasing, permitting and regulating by:
- Streamlining permitting and expanding development on federal lands
- Improving certainty in the leasing and development process
- In addition, expand energy development in National Petroleum Reserve in Alaska and on Indian Lands and open up the Coastal Plain of Alaska (ANWR) for development
Open Offshore Exploration.
- Expand the offshore areas of the Outer Continental Shelf available for development
- Streamline the permitting process for additional offshore exploration
Expand U.S. Energy Exports.
- Expand LNG exports by facilitating permits
- End the crude oil export ban
- Prevent excessively broad environmental review of coal export terminals
Dedicate Additional Revenues to Debt Reduction.
- Direct all additional revenues generated by exploration and drilling on federal lands (excluding the share allocated to the states) exclusively to national debt reduction trust fund—“Debt Freedom Fund”