Rep. Gillibrand Votes to Cut Subsidies for Big Oil

Rep. Gillibrand Votes to Cut Subsidies for Big Oil

Yesterday Congresswoman Kirsten Gillibrand (NY-20) voted for the CLEAN Energy Act of 2007 [HR 6] that will start the federal government on a path to energy independence. The bipartisan bill passed by a vote of 264 - 163. The bill repeals billions in federal subsidies for big oil and creates a Strategic Renewable Energy Reserve to invest in clean, renewable energy resources and promote new emerging technologies.

In 2006, while gas prices hovered around $3 a gallon, the big five oil companies made $97 billion in profits. Congresswoman Gillibrand praised the bill, saying, "At a time when the price of gas remains high, Americans should not be subsidizing the high profits of Big Oil."

The CLEAN Energy Act of 2007 also increases investments for renewable energies. Energy independence is a high priority for Congresswoman Gillibrand, and as a member of the Agriculture Committee, the Congresswoman hopes to put New York farmers and manufacturers at the forefront of making America energy independent.

Congresswoman Gillibrand commented, "America depends on unstable parts of the world for our oil, making energy independence a national security priority. Americans have never failed when met with a critical challenge, and now is the time for a real energy policy. Investing in research and development will increase local economic opportunities, help the environment, improve our national security situation and keep America the leader in cutting edge technology."

America buys $800 million of foreign oil a day from the Middle East and other oil producing countries. Currently, sixty-five percent of our oil is imported. In 2005, the ethanol industry supported the creation of more than 150,000 jobs, boosting U.S. household income by $5.7 billion.

http://gillibrand.house.gov/pr070119.shtml