Issue Position: A Comprehensive Energy Policy

Issue Position

Our country is in the midst of an energy crisis that is threatening to undermine our economy, our security, our environment and the well being of hard working American families. High energy costs have played a significant role in the current economic downturn. Families are faced with the double shock of $4 per gallon gasoline and what are predicted to be the highest home heating costs in history. Our reliance on foreign energy sources has held our foreign policy hostage to ensuring a stable oil supply and has made us less safe. The United States is in urgent need of a comprehensive energy policy that addresses the challenges we now face. This is why I am running for Congress.

The American people require and deserve a new approach to energy policy. Our energy crisis will not be solved by lawyers and business executives fighting over the spoils in Washington. It will be solved by the innovation of our scientists and engineers who are currently working to develop the next generation of renewable energy resources. Innovation is the new capital in the world economy, and the individuals and companies that develop our energy frontier will form the basis of an entirely new industry.

An effective comprehensive energy policy must be built around two key areas: Innovation and Efficiency. As an engineer, I understand the importance of innovation and the process by which it is accomplished. A new comprehensive energy policy must establish a tone for innovation. Engineers and scientists should be at the forefront inserting their professional skills and thinking. We must provide our scientists and engineers with the tools and resources they need to invent, discover and refine new sources for energy. As a part of this strategy we must partner with the private sector as well as public and private institutions of higher learning to research and develop the new technologies that will lead to our energy security. Our comprehensive energy policy must also address energy efficiency standards to reduce energy consumption through higher vehicle fuel economy standards, as well as energy efficiency standards for homes, businesses and industry. Only through a steadfast commitment to both innovation and efficiency will we find the solution to our energy needs.

Immediate Relief from Home Heating Prices

This winter, working families will be stretched to the limit by predicted record high heating prices. The first act of Congress must be to immediately address the high cost of home heating for working families through an expansion in the Home Energy Assistance Plan.

Over the last several years, the Bush Administration has sought to cut home heating assistance to working families. In 2005, I sponsored a bill that increased the Home Energy Assistance Plan benefits using state funds. This was the first legislation of this type in the nation.

The Comprehensive Energy Policy:

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Federal funding for Research and Development: Innovations in renewable energy technologies will benefit every American. Because of the tremendous social benefit of innovation, the Federal Government must play a leading role in funding research and development for the next generation of energy sources. By partnering with scientists and engineers at America's top institutions for higher learning we can make sure that the breakthroughs occur here in America. As an engineer and the former President/CEO of NYSERDA, the most effective and best respected energy research authority in the country, I feel I am uniquely experienced to direct federal policy in energy research. If elected, I will push for a ten year, $10 billion investment in alternative energy research and development.
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Creation of a new "Green Economy": The strain of the high cost of energy is felt around the world, and there is a growing market for alternative energy technologies. As a result, the companies that have the edge on innovation will be the leaders in this rapidly growing industry. I believe that this new industry must be fostered here in the United States. As the leader in nanotechnology, and home to numerous institutions of higher learning like Union, RPI and the University at Albany, the Capital Region will be an ideal place for the growth of the green power industry. Just as I helped establish the roots of the nanotech industry as a member of the Assembly, I will work in Congress to ensure that the Capital Region is a leader in the alternative energy industry. Schenectady and the Capital Region were the site of an energy revolution at the turn of the 20th century, we can lead our nation with the alternative energy revolution at the beginning of this new century.
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Training a "Green Collar" workforce: The growth of the alternative energy industry will require a workforce that is adequately trained to build the technology of the future. Creating the training programs that will prepare workers for a career in alternative energy is a priority for me. These programs need to cover the spectrum of workers from the trades to engineers, inventors and innovators.
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A Carbon Cap and Trade System: In order to reduce demand for fossil fuels and carbon emissions, Paul will work to enact a phased in carbon cap and trade program. According to a carbon cap and trade system, a limited number of permits for carbon emissions will be issued to industries that are users of carbon based fuels. Individual companies will be able to sell or buy permits at auction, providing an incentive for these companies to find innovative ways to reduce their carbon consumption and output. Research has already shown that cap and trade programs are highly effective in promoting innovation and reducing pollution.
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Promoting National Energy Portfolio Standards: In addition to promoting research in renewable technologies, we must mandate that a percentage of energy consumed in this country come from renewable sources. I believe that we must establish a national mandate to produce 10% of our electricity from renewable sources by 2012 and 30% by 2018. As Chairman of the Energy Committee in the New York State Assembly, I sponsored legislation that enacted statewide renewable energy portfolio standards. This legislation was among the first of its kind in the nation, and serves as a model for the Federal standard.
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End Subsidies to Big Oil and Support Alternative Energy: As a part of President Bush's failed energy policy, billions of dollars in tax cuts and subsidies were given to the largest oil companies, which are among the most profitable firms in the world. I support stripping these oil companies of their subsidies and using those funds to promote clean energy sources.
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Increased Fuel Efficiency Standards: A comprehensive energy policy must include dramatically increased fuel efficiency standards for cars and trucks. For years Detroit has fought against higher standards, only to feel pain as consumers turn to their more fuel efficient competitors. I will work to enact legislation that doubles fuel efficiency within ten years. This should be done in coordination with the auto workers and industry. In addition, a comprehensive energy policy must include incentives to help working families upgrade their cars to more fuel efficient hybrid models through refundable tax credits.
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Expanding Access to Public Transportation: One effective way to cut fuel consumption is to increase access to public transportation. This year's spikes in energy costs have lead to a dramatic increase in the use of public transportation. By supporting an expanded and more effective public transportation infrastructure we can further cut fuel consumption.
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Increasing the Energy Efficiency of Buildings and Homes: Every year, billions of gallons of heating oil and natural gas are used to heat homes and buildings that are not energy efficient. An effective comprehensive energy policy must include energy efficiency standards for newly constructed buildings. Energy efficiency in older homes must be addressed, and the federal government must make a commitment to refitting millions of existing homes to be more energy efficient.
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Increase Transparency of Commodities Futures Markets: The Commodities Futures Trading Commission, which is charged with regulating the commodities markets, does not publicly disclose the details of transactions occurring in the commodities markets. If elected to Congress, I will support legislation to bring transparency to the commodities markets, defusing the potential for speculation and increase the penalties for speculators who negatively impact the market.
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Taking on the Oil Cartels: Over the last 15 years, the Oil Industry has consolidated, eliminating competition in the marketplace. An industry that once consisted of many major players is now dominated by five companies: Exxon-Mobil, Chevron-Texaco, Conoco-Phillips, BP and Royal Dutch Shell. The lack of competition has led to market failure, and these companies have failed to invest in refining infrastructure and have few reasons to compete on price. I believe that the anti-trust powers of the Federal Government should be used to take on these oil companies and return competition to the marketplace.
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Making Necessary Improvements in the Nation's Electricity Grid: A state of the art delivery system is essential to guarantee reliability and avoid blackouts and service disruption. Five years ago, a massive blackout caused by the failure of the electrical grid cut power to 40 million Americans. Yet since that time, there has been a lack of leadership from Washington in addressing the weaknesses in our nation's electricity transmission infrastructure. We must make investments in "Smart Grid" technology that manages peak load reductions through smart metering, demand response, and by promoting combined heat and power generation. As Chairman of the Energy Committee in the Assembly, I made improvement to the grid a top priority. By promoting investments in new technology, SuperPower Inc. is currently developing the next generation of power line technology here in Schenectady. In addition, as CEO of NYSERDA, I oversaw extensive investments in the State's power transmission infrastructure.

Addressing Global Climate Change

The United States must take a leadership role in addressing global climate change. This leadership must first be demonstrated here at home, by significantly tightening rules governing the emissions of greenhouse gasses such as carbon dioxide and methane. As Energy Chair in the New York State Assembly, I sponsored several pieces of legislation that limited emissions, including one that established what was among the most stringent emissions standards in the country, setting limits for carbon dioxide, nitrogen oxide, sulfur dioxide and particulate matter.

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