September 17, 2008
“The House delivered a comprehensive energy bill that will reduce our dependence on foreign oil and spur the development of renewable energy sources and energy efficient technologies here at home.”
“This bill will change the direction of our energy policy and begin to move our country away from its reliance on fossil fuels. It eliminates tax breaks for the five largest oil and gas companies and invests that money instead in renewable energy sources and conservation efficiencies. The package provides $18 billion in tax breaks to spur green jobs, reduce energy consumption, improve efficiency, generate alternative and renewable sources of energy and reduce our reliance on foreign sources of energy. It would also require utility companies to generate 15 percent of electricity from renewable sources by 2020, invest royalties from oil companies owed to taxpayers into alternative energy, and expand incentives for investment into solar and wind energy and plug-in hybrids.
“I have some concerns about the bill’s provisions to expand drilling in the Outer Continental Shelf, which experts agree will not reduce gas prices and will present new environmental risks to our coastal communities. Yet the drilling provisions were crafted in a limited and responsible way, and on the whole this compromise package provides the change in direction we need in our nation’s energy policy.”
“I am proud to support this compromise package and will keep working to change course from the costly, outdated energy policies of the past to the innovative energy policies Americans have been waiting for.”