Congressman Dan Goldman Files Green Equity Amendment to Overhaul Republican Big Oil Bill

Green Equity Amendment Would Overturn Strategic Production Response Act’s Planet-Killing Fossil Fuel Giveaway
 
Requires Certification that Paris Climate Accords and Justice40 Initiative Targets are Being Met Before Tapping Strategic Petroleum Reserve
 
Read the Green Equity Amendment Here

Washington, D.C. – Congressman Dan Goldman (NY-10) today filed a Green Equity Amendment to the Big Oil bill that House Republicans will introduce this week. The amendment would replace the special interest fossil fuel giveaway requirements of the Strategic Production Response Act with requirements that meet President Biden’s greenhouse gas reduction and climate justice goals.
 
“The Republican Strategic Production Response Act is nothing more than a massive taxpayer-funded gift to fossil fuel special interests,” Congressman Dan Goldman said. “Consistent with our nation’s commitment to tackling climate change, this Green Equity Amendment would turn a planet-killing corporate giveaway into a re-commitment to energy independence and a comprehensive and equitable green energy transition. While tapping into the Strategic Petroleum Reserve can be a critical tool to protect American families from sky-high gas prices, we have an obligation to future generations to make dramatic and sustained progress towards an equitable and sustainable future.”
 
The Republican Strategic Production Response Act would prohibit the Department of Energy from releasing oil from the Strategic Petroleum Reserve (SPR) until it expands oil and gas drilling on federal lands by the same percentage that it releases oil from the SPR.  
 
Congressman Goldman’s amendment to the Strategic Production Response Act would kill the GOP’s attempted giveaway to Big Oil and instead require that in order to release oil from the SPR, the Executive Branch must first certify to Congress that 1) the United States is meeting the Paris Climate Accords targets to reduce greenhouse gas emissions; and 2) the recommendations of the Justice40 initiative that 40 percent of the overall benefits of Federal investments flow to disadvantaged communities that are marginalized, underserved, and overburdened by pollution are being met.
 
Congressman Goldman’s amendment would also require that the Executive branch submit a report to Congress outlining any progress made to meet the targets of the Paris Climate Accords and how funds are being used to confront decades of underinvestment in disadvantaged communities that bear the burden of climate change and environmental hazards no later than 30 days after initial certification is submitted to Congress. 

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