SEN. VOINOVICH FACT SHEET

Ideas and Action to Move Energy Independence, Climate Change Agreement Forward

For more than a decade in the U.S. Senate, U.S. Senator George V. Voinovich (R-Ohio) has been calling for a "Second Declaration of Independence" from foreign sources of energy. Sen. Voinovich understands that crafting a comprehensive and economically viable solution to climate change is a vital component of a successful national energy policy, as is reaching across the aisle and working collaboratively with his Senate colleagues. Throughout the 111th Congress, Sen. Voinovich has been pushing Senate leadership to move forward on what we can do now on energy, such as debating the comprehensive energy bill that passed out of the Senate Energy and Natural Resources Committee last year. If the Senate had seriously considered that legislation on the floor, Sen. Voinovich believes Congress would have already enacted meaningful energy legislation that would create jobs, reduce emissions and increase our nation´s energy security. His voice in the climate change debate has helped save thousands of Ohio jobs, and as a senior member of the Senate Environment and Public Works Committee, Sen. Voinovich agrees with President Obama that inaction is not an option. As such, he continues to work on various bipartisan energy related bills:

Energy Legislation:

In April 2009, Sens. Voinovich and Byron Dorgan (D-N.D.) introduced the National Energy Security Act (NESA), legislation aimed at boosting the nation´s energy security and national security by reducing America´s reliance on foreign oil. NESA is a comprehensive plan designed to make America substantially less dependent on foreign oil by providing a bridge to transition to new energy sources. NESA would: create a national energy superhighway of electricity transmission; promote the development of plug-in electric and hybrid-electric vehicles and the infrastructure necessary to adopt these vehicles on a wide scale; increase development of all domestic energy resources; establish and fund a workforce training program for energy key sectors; and urge further action to reduce the geopolitical impact of oil dependence.

Nuclear Renaissance:

As a former chairman and ranking member, and current Environment and Public Works (EPW) Clean Air and Nuclear Safety Subcommittee member, Sen. Voinovich committed himself to the safe and secure growth of nuclear power and made important strides in the nuclear renaissance, which will bring Ohio and the rest of the nation thousands of well-paying jobs. In May 2010, Sen. Voinovich introduced the United States Nuclear Fuel Management Corporation Establishment Act to establish a government corporation to assume the responsibilities of the Department of Energy for managing used nuclear fuel and high-level radioactive waste. The Columbus Dispatch editorialized in favor of Sen. Voinovich´s bill, which would:

Implement an accountable and sustainable government corporation with a nine-member bipartisan board of directors appointed by the president and confirmed by the U.S. Senate for the short- and long-term management of spent nuclear fuel;

Create a technology-neutral fuel management business that appropriately considers the related issues of safety, nuclear proliferation, environmental impact and economic factors; and

Ensure that the fees paid into the Nuclear Waste Fund are applied for the disposal of radioactive materials produced by the generation of electricity from nuclear power.

The senator is currently working on a new piece of nuclear legislation. The Enabling the Nuclear Renaissance Act contains several titles vital to further enabling the nuclear renaissance in the United States. Nuclear power provides 20 percent of our nation´s electricity and 70 percent of our emission-free electricity. Each new nuclear plant can provide up to 2,400 jobs during construction and 700 jobs during operation as well as 400-700 additional jobs in the local community. Each plant will also bring it about $430 million annually in revenue, as well as $20 million in taxes to the state and local governments and $75 million in taxes to the federal government.

The Enabling the Nuclear Renaissance Act would:

Declare nuclear energy to be clean energy;

Finance new nuclear power plants;

Accelerate the development of small modular reactors;

Improve the Nuclear Regulatory Commission (NRC) licensing process;

Enhance the nuclear workforce;

Develop infrastructure;

Enhance regulatory authority; and

Tackle used nuclear fuel management.

Carbon Capture and Sequestration:

In March 2010, Sens. Voinovich and John D. Rockefeller IV (D-W.Va.) unveiled bipartisan language to promote research and create incentives to develop and deploy full scale carbon capture and sequestration (CCS) technologies for a strong energy future. The discussion draft released proposed a comprehensive approach to the development and deployment of CCS technologies. The discussion draft has five tenets:

CCS Innovation Program–The program will authorize $850 million over 15 years for a cooperative industry-government research and development program in the Department of Energy´s (DOE) Office of Fossil Energy. The goal of this program will be to demonstrate new and innovative technologies to capture, use or store carbon dioxide. Industry partners would be required to match up to 20 percent of the government´s investment. This program will enhance existing DOE efforts led by the National Energy Technology Laboratory (NETL) in Morgantown, West Virginia. DOE will be required to report annually on the fossil energy program, the state of CCS deployment, and recommendations to speed deployment. DOE´s efforts will also be reviewed annually by the Government Accountability Office (GAO);

CCS Pioneer Program–Early stages of CCS deployment face significant technological and economic risks. The bill establishes "Pioneer Phase" incentives to encourage rapid deployment of 20 gigawatts of CCS systems and equipment;

CCS Early Adopter Program–Following the "Pioneer Phase" of development, the bill´s Early Adopter Program will provide operational incentives for CCS technologies in the form of tax credits based on the amount of carbon dioxide captured at facilities. These tax credits will provide price certainty for investors in power plants and industrial facilities;

Technology Standard for Power Plants–Technology standards will go into effect after the completion of the first 10 gigawatts, or in the year 2030, unless DOE determines differently. Coal power plants, built after the legislation would be enacted, would be retrofitted with the demonstrated CCS technology; and

Long-term Stewardship and Liability–The widespread adoption of CCS requires a stable legal and regulatory framework for various stages of the projects (e.g. during operation and post-closure). The discussion draft includes a placeholder for addressing liability issues while Sens. Rockefeller and Voinovich consider a number of options to clarify the long-term liability framework.

International Effort to Develop New Technologies:

In April 2009, Sen. Voinovich and Mark Pryor (D-Ark.) introduced a bill to initiate an international effort to develop the new technologies needed to reduce greenhouse gas emissions and enhance energy security, while protecting jobs and the economy. The International Clean Energy Development Act of 2009 (ICED) would direct the U.S. program office of the Asia-Pacific Partnership on Clean Development and Climate (APP) to establish a committee focused on the development and commercialization of clean energy technologies – including cleaner fossil fuel and power generation – through U.S. support. ICED would enable APP to strengthen its focus on the development and commercialization of clean energy technologies.