Kaptur Supports Energy Independence

KAPTUR SUPPORTS ENERGY INDEPENDENCE

Representative Marcy Kaptur applauded House passage of a bill to relieve America's dangerous dependence on foreign oil through investment in clean, renewable energy and to close tax loopholes and end subsidies to behemoth oil companies. With Kaptur's strong support, the House passed HR 6, the CLEAN Energy Act of 2007, which: accelerates the use of clean domestic renewable energy resources and alternative fuels; promotes the use of energy-efficiency practices and conservation; and amends the IRS code to eliminate various tax loopholes and tax breaks afforded to oil companies. H.R. 6 passed the House today by a vote of 264-163.

"As a longtime advocate for ethanol and the development of biodiesel technologies, I am thrilled that our new Democratic Majority has tackled this important matter so early in its session. I am pleased that today we are taking some important steps in shifting how federal resources are used - taking them away from preferential treatment for an industry with record profits and instead making them available to a new domestic energy industry with record potential." said Congresswoman Kaptur, a Member of the Agriculture Appropriations Subcommittee and the author of the first energy title in a U.S. Farm Bill.

As fuel and home heating prices rise for Americans across the country and, until recently, gasoline prices skyrocketed with no end in sight, the five largest oil companies reported record profits. Since President George W. Bush took office, the Energy Information Administration reports that the average price per gallon at the pump rose a staggering $1.55.

"This Administration sat idly by while Exxon Mobil, Chevron, and Conoco Phillips reported almost $16 billion in combined profits and the American people were hurting. Today, hard working Americans can find solace in this action to wean our country from its dependence on oil and to curb Big Oil's insatiable appetite for subsidies and tax breaks," said Kaptur.

Congresswoman Kaptur further warned that currently 56% of oil consumed in America comes from a foreign country, creating a treacherous situation in which our country compromises our national security and our economic security, not to mention our environmental security as our massive oil consumption threatens to change our climate in disastrous ways.

"Today's legislation opens the door to a cleaner, more secure future for our children," declared Congresswoman Kaptur.

http://www.kaptur.house.gov/PressRelease.aspx?NewsID=1584