On May 1, Senate Energy and Natural Resources Committee Ranking Member Pete Domenici (R-NM) introduced the Domestic Energy Production Act of 2008. According to Sen. Domenici, the bill is intended to "address America's soaring gas prices by using common sense measures that will increase production of oil and gas in America." Republicans have been critical of Democrats' energy policy agenda, which focus on increasing renewable energy generation and energy efficiency rather than domestic oil and gas production.
The bill, if enacted, would produce up to 24 billion barrels of oil, enough to keep American running for five years with no imports. The bill plans to expand offshore oil production and in the Arctic National Wildlife Refuge and remove obstacles to domestic production in the West. The bill would also suspend filling the Strategic Petroleum Reserve for 180 days and would repeal a provision in last year's omnibus appropriations bill which reduced mineral leasing revenue payments to states by two percent.
Regarding alternative fuels, the bill would establish a direct loan program to accelerate the production of advanced batteries. It would establish a research program to determine infrastructure needs for the transport of renewable fuel blends and create a study to test the environmental impacts and efficiency of diesel-fueled vehicles. The bill would also mandate that 6 billion gallons of coal-derived fuels be produced by 2022, starting at 750 million gallons in 2015 and increasing by that amount annually.