GOP to boost oil-price support to help rescue gas industry

Jul 18, 2021 Author Services

The Republican Party will soon roll out new incentives for gas producers to boost fuel efficiency and other incentives aimed at helping the nation’s economy and environment, according to an aide.

The push comes amid a sharp rise in gas prices and a nationwide gas shortage that has left many consumers without gas and fueling oil.

“We will be making a series of new energy-related investments to help American businesses thrive and thrive for all Americans, including fuel incentives to help consumers save energy and boost energy efficiency,” said Ryan Costello, a senior policy adviser for the Republican National Committee.

The Republican-led House Energy and Commerce Committee, which is considering boosting gas prices to help combat a fuel shortage, is expected to release the new rules next week.

The House Energy Committee has also set up a $2 million fund to help the nation battle global warming.

The plan calls for a federal gas tax that would be phased in over five years, but lawmakers could lower it as part of a long-term plan to help meet future demand.

Costello said the gas tax increase would help reduce greenhouse gas emissions, while providing incentives to states and energy companies to develop energy-saving technologies.

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