Blunt's plan includes exploring for energy off America's coasts, promoting conservation and providing incentives for new technologies.
"This is the kind of balanced approach we need to bring down the price at the pump. I will keep working with my colleagues in Congress to take action on this package as soon as possible," Blunt said.
His plan includes:
- Opening Deep Water resources, which would provide 3 million additional barrels of oil a day, Opening the Arctic Coastal Plain (1 million barrels of oil per day) and allowing development of shale oil (2.5 million barrels of oil per day)
- Providing tax incentives for families and businesses that purchase more fuel efficient vehicles, a monetary prize for the first person to develop an economically feasible super-fuel efficient vehicle, and providing tax incentives for those improving energy efficiency
- Developing alternative fuels through government contracting, extending for 10-years the tax credit for alternative energy production and eliminating barriers to expand nuclear production