A decade ago, I began pushing alternative energy in the auto industry because transportation makes up 75 percent of our oil consumption. We are now just beginning to see the impact of alternative fuel and hybrid vehicles. But that is only part of the solution.
I believe there are a number of fairly simple, straightforward approaches we can take, if we had the courage to do so, to lower gas prices in America.
1. Use domestic oil before buying oil from the Middle East.
We have 50 years worth of energy in Alaska and the deep waters of the Outer Continental Shelf. We can tap these in environmentally friendly ways and we should do it today! I consistently voted to open up these areas, dating back to 1995, and had we opened up these areas then, we would not be seeing gas prices as high as they are today.
2. Increase the number of refineries in the United States.
In 1981, 324 refineries were operating in the United States. In 2005, that number stands at 148 – less than half! Unless we increase domestic production, prices will not drop. And we can do that by cutting the red tape, streamlining the permitting process and utilizing federal property – like old military bases – to build new facilities.
3. Build new energy plants from wind, solar, coal and nuclear.
If we want our economy to expand we need keep energy prices low. That is why I authored the law to expand tax credits to produce wind and solar energy. We also need to invest in new, clean coal technology as well as advanced, safe nuclear.
4. Continue to promote alternative fuels, vehicles, and infrastructure.
Ethanol is a bridge to the future, but it is not the sole solution. I have authored a new law that provides consumers with a tax credit for the purchase of a new hybrid, lean burn diesel, or other clean fuel car or truck. My plan also provides incentives for gasoline retailers who convert their traditional fuel pumps and tanks to those using clean fuels.
If we can get some of this done, we will start to change the direction we are heading in.
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