Sen. Murkowski releases discussion draft of long term energy legislation

U.S. Sen. Lisa Murkowski (R-AK) released a discussion draft last week concerning the Strategic Energy for America (SEA) Act of 2019, which builds on her recently introduced Strategic Energy Initiative.

Her intent is to gather public comments on a bill that would make major changes to the focus and structure of existing energy policy in U.S. and global energy markets.

“In this era of strategic energy competition, we must strengthen our tools of statecraft through a rational, long-term approach,” Murkowski said. “What I have released today outlines the means to continue growing our nation’s energy dominance. American companies and workers participate in highly competitive global energy markets that are often dominated by cartels, state-owned enterprises, and trade finance agencies in other countries, and we cannot unilaterally disarm.”

The SEA proposes to direct the Secretary of the Treasury to stand against any energy-specific restrictions that multilateral development banks might impose. It also directs the Development Finance Corporate to support nuclear energy projects abroad, specifically in developing nations. Finally, it would turn to the Export-Import Bank of the United States to create a strategic energy portfolio. In so doing, it would reauthorize the bank through 2031 adjust a number of measures binding it, such as raising the exposure cap, modifying old restrictions and altering the 2 percent all-top freeze policy on its default rate.