U.S. Congressman Steny Hoyer hailed Thursday’s passage of the House CLEAN Energy Act of 2007 (H.R 6) as a down payment on the promise of a new energy future for America that is less dependent on foreign oil. The bill, which recovers $14 billion in taxpayer-funded subsidies to the oil industry to reinvest in clean renewable energy and other alternative energy technologies, is the last of the legislation Democrats pledged to pass in the opening hours of the new Congress.
“Achieving energy independence is critical to America’s national security, economic security, and environmental security,” stated Hoyer. “The CLEAN Energy Act represents an important down payment on the promise of a new energy future for our country. By acting now to take this significant step forward, we have the opportunity to leave future generations a lasting legacy that makes our nation and our world a better place.”
The CLEAN Energy Act aims to reverse years of misguided Republican energy policy that focused more on opening sensitive environmental areas to drilling than future energy needs. The measure creates a $14 billion Strategic Energy Efficiency and Renewables Reserve to pay for subsequent legislation to invest in clean, renewable energy resources and alternative fuels, promote new energy technologies, develop greater efficiency and improve energy conservation.
In the coming weeks, Rep. Hoyer plans to reintroduce his PROGRESS Act, a comprehensive package of measures that represents a major national effort to make substantial gains in energy technology, conservation, and the use of alternative fuels. The legislation was first introduced in the 109th Congress with 129 cosponsors.
“Renewable energy, alternative fuels, conservation and efficiency programs are under-utilized in our effort to wean our nation off of its dependence on foreign oil,” Hoyer stated. “Ending excessive tax breaks to oil companies and reinvesting these taxpayer funds in alternative energy technologies is a critical first step in addressing our nation’s long-term energy needs.”
In the last several years, profits and government subsidies for oil companies have skyrocketed, while energy costs for American consumers have soared. In 2006, the big five oil companies pulled in $97 billion in profits – nearly five times their profits in 2002 while gas prices at the pump topped $3 per gallon. Meanwhile, America has only grown more dependent on foreign oil; today, sixty-five percent of oil consumed in America comes from other countries, and the United States sends $800 million each day to the Middle East and other oil producing countries.
“The oil and gas industry is doing well. It does not need the American taxpayers’ help to be successful or to make a dollar,” stated Hoyer. “The CLEAN Energy Act, however, is not about punishing one sector of industry, nor does it represent the totality of our energy policy. It is about acknowledging that more drilling alone is not a sustainable energy path. It is about starting to move the nation in a new direction that helps consumers, honors and protects taxpayer dollars, and reduces our excessive dependence on foreign oil.”