Congress again eyes Alaska drilling

GOP bill would use ANWR royalties to fund alternatives; Democrats push rival measure aimed at developing renewables.

NEW YORK (CNNMoney.com) — Fresh after approving a bill to open the East and West coasts for offshore drilling, a report Wednesday said the House of Representatives is considering two more energy-related items that would expand domestic oil production and encourage renewable technologies.

The Republican bill, sponsored by Rep. Devin Nunes of California, would open the Arctic National Wildlife Refuge for drilling and use the proceeds from royalty payments to fund production tax credits for new fuels made from liquefied coal or biomass, according to The Wall Street Journal.

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