E-Newsletter: Energy Independence

Statement

Dear Friends,

On July Fourth, we celebrated America's 238th birthday and our nation's founding ideals of freedom and equality. As we continue to form a more perfect Union, we should focus on securing a freedom that is critical to America's prosperity in the 21st century: energy independence.

America's national security and economic success depend on our ability to harness the energy our nation needs in a smarter, cleaner and more innovative way. The last few years have been cause for optimism thanks to remarkable advancements in the energy production marketplace. In October 2013, the United States produced more crude oil than it imported for the first time since early 1995, according to the Energy Information Administration. Meanwhile, the United States is now the world's top producer of natural gas, and the production of alternative energy continues to increase.

Despite these advancements, America's decades-long addiction to foreign oil persists, leaving our security and economy exposed to the instabilities of precarious regimes in places like the Middle East, Nigeria and Venezuela. For example, the recent turmoil in Iraq has created uncertainty in the market and contributed to the most expensive July Fourth gasoline prices since 2008. Now more than ever, we should continue to push for greater investments in cleaner, alternative energy sources, such as wind and solar, that will make America safer, reduce costs and create jobs.

I've said for a long time that the cheapest, cleanest energy is the energy we don't use. One of my top priorities in Congress this year has been finding new ways for the federal government to encourage individuals to reduce their energy consumption, while helping the marketplace grow and thrive. To that end, I recently introduced legislation to establish a Federal Green Bank, modeled after Connecticut's successful Green Bank, to help finance the development of clean energy and energy efficiency projects. The Green Bank Act of 2014 will create an independent, self-sustaining nonprofit corporation that would serve as a catalyst for leveraging capital to expand energy development and conservation.

There is much more we can do at the national level to make America more energy efficient. For instance, almost 20 million American families live in apartments and condominiums. But historically, these properties have been largely overlooked when it comes to implementing energy efficiency programs, effectively leaving billions of dollars in potential savings untouched.

To help tackle this problem, I recently introduced the Multifamily Housing Energy Efficiency Improvement Act of 2014. The bill encourages energy efficiency in multifamily residential properties by guaranteeing a small portion of mortgages used to build sustainably. This legislation has the potential to slash carbon emissions that are harming our environment and help unleash billions of dollars in untapped savings.

This week, the House Republican majority advanced legislation to fund U.S. energy and water programs, a bill that included provisions to increase spending for fossil fuel energy research while cutting funding for renewable energy development. I strongly believe these priorities represent the wrong approach to putting America on a path to energy independence. Please know that I will continue to everything in my power to ensure that America leads the way in creating a safe and secure clean energy future.

Sincerely,

Jim

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