Washington, DC - "Exxon Mobil has yet again posted quarterly profits of more than $10 billion. American consumers continue to struggle to pay higher energy costs because the oil companies have refused to invest in refinery capacity or alternative energy sources. Instead of lining the pockets of big oil, we need a new direction in energy policy that rewards innovation, creates jobs, and reduces our dependence on foreign oil. What I have proposed is that we eliminate oil company tax breaks and use that money to create a Strategic Energy Fund to speed development of biofuels, get more efficient cars on the road, and fund research into cutting-edge energy technologies. By taking these steps, we can finally get on the path to energy independence.”

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