Investing in a Clean Energy Future

Investing in a Clean Energy Future
Wednesday, April 19, 2006

By Congresswoman Betty McCollum

"If gas prices rising to $3 per gallon aren't enough for the average family, there are two more good reasons for a new American energy policy - global climate change and a costly dependency on foreign oil.

"Climate change is real and demands action. In Minnesota, our earlier springs and shorter, milder winters are likely signs of serious, long-term climate changes. According to NASA scientists, 2005 was one of the earth's hottest years in more than a century. Data also shows that 19 of the 20 hottest years on record occurred in the 1980s or later.

"At the same time, America's dependence on foreign oil must be considered a national security risk. The U.S. consumes 25 percent of the world's oil production. More than half of the 20 million barrels of oil the U.S. uses every day comes from a foreign source. With the booming economies of China and India squeezing global oil supply and political instability among key oil producing countries like Iran, Venezuela, Nigeria and Iraq, it is likely that world oil prices will remain volatile and could continue rising for some time to come.

"Unfortunately, the current U.S. energy policy lacks urgency on both of these vital issues. President Bush admitted in his January State of the Union address that "America is addicted to oil." Yet the president's 2007 federal budget proposes feeding the addiction by handing out a package of tax breaks and royalty-free drilling rights to the oil industry that, according to the nonpartisan Congressional Budget Office, would cost taxpayers at least $20 billion.

"On climate change, the White House has no plan to reduce greenhouse gas emissions, but instead urges more studies. Rather than charting a course for a secure, sustainable energy future for America, Congress and the White House are wasting valuable resources and time by propping up a status quo approach that is unsustainable and dangerous.

"There is a clear consensus among Americans for a new national vision of leadership to meet the energy, environmental and economic demands of the 21st century. We can face the challenges of global climate change and oil dependence head-on if the federal government is a partner with states, universities and the private sector, and is willing to invest the resources into the research and development that will spur a clean energy revolution. Powering the global economy, creating millions of new jobs and keeping our planet alive and healthy should be a national priority.

"A clean energy future that addresses climate change and oil dependence is achievable. For example, combining today's efficient technologies with new fuels could cut America's oil demand by 25 percent by 2025. And with an abundance of renewable energy sources in our backyard and clean energy technology companies across the state, Minnesota stands to reap more than its share of benefits from a national push for clean energy.

"In Congress, we should rescind the billion of dollars in subsidies for oil and gas companies to expand drilling. Instead let's invest in research and extend incentives for alternative energy sources such as wind, biomass and biofuels that keep energy costs down, create jobs and make us more competitive in the global economy.

"As the largest consumer in the world, the U.S. government can use its purchasing power to stimulate demand for hybrid and flex-fuel vehicles and cleaner transportation fuels. Doing so would help to reinvigorate our domestic auto industry and promote the growth of young biofuel companies across the country. The U.S. can become the leading exporter of clean energy technologies and services to growing markets around the world and start reigning in our record trade deficits.

"Whether Congress and the White House like it or not, our nation's policies regarding energy, the economy and our environment are inextricably linked. America's standard of living is also connected to these policies. It is time for leadership, vision and commitment from Washington to make the smart investments that will protect our nation's economic security and our planet's future. If Washington refuses to change course, then the time has come for the American people to lead the energy revolution with their voices, votes and pocketbooks."

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