(Washington D.C.)- Completing the House Democratic Leadership's 100 Legislative Hour Agenda, the House of Representatives today passed H.R. 6, the CLEAN Energy Act, on a bipartisan vote of 264 to 163. The measure will repeal $13 billion in subsidies and tax breaks for Big Oil companies, and use the savings to invest in clean renewable and alternative fuels and energy efficiency. U.S. Rep. Sander Levin (D-Royal Oak), an original cosponsor of the bill, applauded its passage saying it "charted a new course on energy security."

"It's time for Congress to face the facts and begin to break our nation's dangerous addiction to oil," said Levin. "The industry tax breaks and royalty holidays that we seek to eliminate today no doubt serve the interests of the big oil companies, but they do not serve the interests of our nation's long-term energy security or, for that matter, the interests of taxpayers, consumers and the environment."

The bill targets the flawed deepwater oil and gas leases that were awarded in 1998 and 1999.  Contrary to longstanding practice, these leases did not provide for royalty payments -  no matter how high oil prices rise.  H.R. 6 requires that these leases be renegotiated to ensure the American taxpayer receives a fair royalty for public-owned resources; failing that, the companies would be barred from seeking new offshore drilling leases.  The legislation also closes a tax loophole that allows oil and gas companies to take advantage of a tax provision intended to encourage domestic manufacturing. Further, the bill would create a Strategic Renewable Energy Reserve to invest in clean, renewable energy resources and alternative fuels, promote new energy technologies, develop greater efficiency and improve energy conservation. 

"Rather than continue business as usual, today we are beginning to chart a new course to energy security.  The legislation before the House repeals $13 billion in egregious tax subsidies and royalty holidays that have been given to the oil companies in recent years.  Instead, we will invest these funds in clean, renewable energy that is made here in the United States, including solar, wind, biomass, and biofuels.  We will also invest in new energy technologies and develop policies to stimulate investment and deployment of energy efficient products and services.  Investing in alternative fuels and new energy technologies is also an investment in jobs here in America," concluded Levin. 

In the opening weeks of the 110th Democratic Congress, the House of Representatives passed the Democratic Majority's 100 Legislative Hour Agenda with bipartisan support that included sweeping ethics and rules reforms, implementing the 9/11 Commission Recommendations, increasing the minimum wage, expanding stem cell research, allowing negotiation of lower prescription drug costs, cutting the interest rates on student loans, and ending subsidies for big oil and investing in renewable energy.

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