Sen. Ted Cruz on Monday detailed a plan to expand domestic energy production by beating back a slate of Obama administration regulations that he says are standing in the way of a national oil and gas boom. Decrying U.S. energy policy as stuck in the 1970s, the Texas Republican laid out the major points of sweeping legislation he is preparing to introduce in the coming weeks.
The plan is a medley of several existing proposals championed by congressional Republicans and the energy industry, and contains provisions that would block forthcoming federal regulations on hydraulic and power plants. It would also require approval from Congress for the most costly government rules. “Part of the reason we see this out-of-control regulatory state is that Congress has outsourced its responsibilities — has handed it to unaccountable regulators who don’t actually have to see the American people” .........Under the legislation, increased federal revenue from expanded energy reduction would be placed in a trust fund to help pay down the federal debt. “This opportunity is right in front of us, if the fed government will simply listen to the American people,” he said......To Read More......
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