Congressmen Henry A. Waxman and Edward J. Markey released Thursday a draft of clean energy legislation which aims to create jobs, reduce the nation's dependence on foreign oil and combat global warming.

The American Clean Energy and Security Act of 2009 was greatly expected as the administration of President Barack Obama prepares to focus on clean energy.

To read the full text of the American Clean Energy and Security Act of 2009 clickhere

Our goal is to strengthen our economy by making America the world leader in new clean energy and energy efficiency technologies, said Chairman Waxman of the Energy and Commerce Committee.

The Energy and Commerce Committee will complete consideration of the legislation by Memorial Day.

Four Titles

The legislation has four titles to meet its goals.

- The clean energy title that promotes renewable sources of energy, carbon capture and sequestration technologies, low-carbon fuels, clean electric vehicles, and the smart grid and electricity transmission.

- An energy efficiency title that increases energy efficiency across all sectors of the economy, including buildings, appliances, transportation, and industry.

- A global warming title that places limits on emissions of heat-trapping pollutants.

- A transitioning title that protects U.S. consumers and industry and promotes green jobs during the transition to a clean energy economy.