NAM president John Engler said Monday the Strategic Plan for Energy Independence proposed last week by U.S. Sen. George Allen (R-VA) is a “comprehensive and well-considered plan for increasing domestic energy production, reining in price increases and reducing our dependence on foreign sources.”

Speaking on the floor of the U.S. Senate, Allen spelled out a five-point program to lessen the nation’s dependence on foreign oil. The plan includes reducing what was called the “leverage” that countries such as Iran and Venezuela now use; accelerated exploration and development of domestic energy resources; increased investment in new energy sources; a new national commitment to innovation, R&D and entrepreneurship; and a national commitment to energy security.

“Everything on Senator Allen’s agenda would be a step in the right direction,” said Engler. “Our economy and way of life are heavily dependent on energy, which leaves us vulnerable to many nations that are openly hostile to us. In the near term, we need to develop more of our own resources. In the long term, we must develop new sources of energy.”