Cruz & Bridenstine Author Energy Bill

U.S. Sen. Ted Cruz, R-Texas, and Rep. Jim Bridenstine, R-Okla, introduced on Wednesday the “American Energy Renaissance Act” that would rollback or end several federal regulations on the nation’s oil and gas industry.

The proposed legislation, introduced into the U.S. Senate and House of Representatives, would leave the regulation of hydraulic fracturing, or fracking, to the states rather than the federal government.

Additionally, the proposed legislation would speed up the permitting process for new refineries, phase out and repeal the Renewable Fuel Standards over five years, end federal regulation of greenhouse gases that have been linked to global climate change, open up national reserves in Alaska and Native American reservations for oil and coal production, and immediately approve the Keystone pipeline, among others.…