The billSenator Lugar's energy bill is not cap and trade. It focuses on saving people money on their energy bills, reducing foreign oil dependency, improving industrial competitiveness, diversifying energy choices, and better using domestic fossil fuel resources.
The updated outline
The two-page summary
Press conference video
Energy Secretary Chu's letter
Senator Lugar's legislation will:
Reduce our foreign oil dependency;The plan reflects both Republican and Democratic proposals and will generate the following savings by 2030:
Save Americans money on their energy bills;
Improve our industrial competitiveness;
Invest in cleaner and more diverse energy choices; and
Better use our domestic fossil fuel resources.
Cut foreign oil dependence by nearly 40 percent;
Decrease national energy consumption by 11 percent;
Reduce average household electric bills by 15 percent; and
Cut greenhouse gas emissions by 20 percent, or about 1.6 billion metric tons - the equivalent of taking more than 240 million cars off our highways.