Issue Position: Energy Independence

Issue Position

As the price of gasoline continues to take a tremendous toll on the finances of America's families, it is becoming increasingly clear that the very economic independence of our country in jeopardy. Underscoring our nation's reliance on foreign sources of energy is the fact that our nation possesses 2% of the proven world oil reserves while we use 25% of the world's energy. This imbalance fuels our trade deficit and sends hundreds of billions of dollars abroad each year.

We need innovative solutions that look to the domestic resources of our nation that are readily available. These include the most productive farm economy in the world, hundreds of years of untapped coal resources and both wind and solar. However, this countries biggest resource is by far our intellectual capacity to develop the technologies needed for the next century.

From hydrogen based automobiles, to geothermal, cryogenic power systems, offshore wind farms, tidal energy and biomass based fuel, our ability to compete depends on our ability to innovate.

In response to this crisis, The House of Representatives has acted on the following issues during the first half of 2008:

* H.R. 6, Energy and Security Act, which reduces our dependence on foreign oil, reduces global warming, and lowers energy costs for consumers by such steps as raising the CAFÉ standards for the first time in 32 years, providing new energy efficiency standards, and making an historic commitment to American-grown biofuels 2007 Public Law (110-140)
* HR 6251- directs holders of oil and gas permits to move forward with drilling activities or lose the permits on federal lands. The oil and gas companies currently hold drilling rights on more than 68 million acres of public lands--containing 81% of America's federal oil and gas reserves.
* HR 6377, the Energy Markets Emergency Act of 2008 directs the Commodity Futures Trading Corporation (the market where oil is traded) to investigate the role of excessive speculation in any contract market under its jurisdiction. This legislation was approved in the house by the overwhelming margin of 402 - 19.
* H.R. 2264, No Oil Producing and Exporting Cartels Act (NOPEC), which authorizes the Justice Department to take legal action against OPEC state-controlled entities that participate in conspiracies to limit the supply, or fix the price

Congresswoman Kaptur has introduced legislation in the following areas related to our energy future:

* HR 2218 the Biofuels Energy Independence Act of 2007 which creates loan programs to promote the use of biofuels in the domestic market.
* HR 682 which provides for the use of domestically produced biofuels in the strategic petroleum reserve, an important step in diversifying our use of Middle Eastern oil.
* HR 2037, requires fuel blenders to use an increased percentage of renewable fuels in domestically consumed fuels.

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