[Public Papers of the Presidents of the United States: George H. W. Bush (1992, Book I)]
[May 27, 1992]
[Page 833]
[From the U.S. Government Publishing Office www.gpo.gov]



Statement by Press Secretary Fitzwater on House of Representatives 
Action on Energy Legislation

May 27, 1992
    The President is pleased that the House of Representatives, in 
passing H.R. 776, today made progress toward adopting a sound national 
energy strategy.
    This legislation implements several key elements of the national 
energy strategy the President presented to Congress in 1991. It promotes 
energy efficiency and increases the use of renewable and alternative 
energy while providing much needed alternative minimum tax relief for 
independent oil and gas producers. This bill would also foster 
competition in wholesale electricity markets, reform the regulation of 
natural gas pipelines, and streamline the nuclear powerplant licensing 
process.
    Although pleased with the progress, the President noted that the 
House bill needlessly locks up some of America's best prospects for 
domestic oil and natural gas production and restricts State prorationing 
authority, thereby interfering with the ability of States to properly 
regulate production of their own gas resources. While there is much work 
to be done, the President believes this bill forms a welcome bipartisan 
basis for moving to conference.