Energy Independence
The Democratic-led Congress is moving America in a New Direction for Energy Independence—working for consumers to lower gas prices, make America more secure, and launch a cleaner, smarter, more cost-effective energy future that creates hundreds of thousands of green jobs and reduces global warming.
On September 16, the House passed the Comprehensive American Energy Security and Consumer Protection Act, H.R. 6899. The legislation is a bold step forward, helping end our dependence on foreign oil and increase our national security. It launches a clean renewable energy future that creates new American jobs, expands domestic energy supply--including new offshore drilling, and invents and builds more efficient vehicles, buildings, homes, and infrastructure. It will lower costs to consumers and protect the interests of taxpayers. It is a comprehensive strategy, and the product of bipartisan compromise. It offers Republicans who want a comprehensive approach the choice to make sure Big Oil pays its fair share.
See for yourself how the Comprehensive Energy Security and Consumer Protection Act and the Boehner Energy Plan compare>>
Learn more>>
Speaker Pelosi learning about plug-in hybrid car technology |
Failed Policies of the Past
American families and businesses are reeling from record prices—the result of seven years of missed opportunities and an energy policy this White House has literally allowed the Oil Industry to write. Their policy is working for only one group: the oil companies are earning record profits while Americans are paying record prices. The failure to diversify our energy sources—with bold investments in renewable energy and more efficient technology—leaves us dangerously dependent on foreign oil, and hurts our economy and American families.
Drilling Down on Republican Rhetoric
Republicans in Washington only offer more drilling—even though 68 million acres of federal oil reserves are already open and leased for development, but oil companies have decided it’s not worth the money to drill there. New drilling won’t lower prices for years to come. Drilling in the pristine Alaskan Wildlife Refuge wouldn’t yield any oil for 10 years—and in 22 years would only save consumers about 2 cents a gallon. Even John McCain won’t drill there. The bottom line: America has only 1.6% of the world’s oil supply, but we use 24%—so drilling isn’t much of a solution at all.
A New Direction
The New Direction Congress has enacted into law the first new fuel efficiency standards for vehicles in 32 years, an historic commitment to affordable American-grown biofuels which are keeping gas prices almost 50 cents lower than they would be, and action to lower gas prices by suspending oil purchasing for the Strategic Petroleum Reserve. We will continue to offer innovative energy solutions, pressing for legislation that invests in clean, renewable, energy and efficient technologies, reduces transit fares, help Americans struggling with energy prices, rewards conservation, cracks down on oil speculators and on price gouging, forces Big Oil to ‘use it or lose it’ on federal drilling permits, and transitions America to a new more affordable energy future.
New Direction Legislation
The New Direction Congress has enacted into law:
Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act – Temporarily suspends the filling of the SPR, starting June 30th, to put more oil on the market, which experts agree will help drive down gasoline prices. Signed into law on May 19, 2008.
Energy Independence and Security Act in 2007– Historic energy legislation with provisions to combat oil market manipulation, increase vehicle fuel efficiency to 35 miles per gallon in 2020 – the first Congressional increase in more than three decades-- and promote the use of more affordable American biofuels. Signed into law on December 19, 2007.
Food, Conservation, and Energy Act of 2008 – The new Farm Bill makes a historic commitment to more affordable homegrown American biofuels and increases Commodity Futures Trading Commission oversight authority to detect and prevent manipulation of energy prices. President Bush vetoed this bill, but the Congress has overridden that veto.
Legislation that the House has passed includes:
Reducing Transit Fares – Gives grants to mass transit authorities to lower fares for commuters pinched at the pump and expand transit services.
Closing the “Enron-like London Loophole” for Petroleum Markets – Takes steps to curb excessive speculation in the energy futures markets, which experts have noted is driving up the price of a barrel of oil.
Renewable Energy and Job Creation Act – Legislation to extend and expand tax incentives for renewable energy, including incentives for plug-in vehicles, retain and create hundreds of thousands of green jobs, spur American innovation and business investment, and cut taxes for millions of Americans. The President has threatened a veto.
The Gas Price Relief for Consumers Act – Legislation to combat record gas prices by authorizing lawsuits against oil cartel members for oil price fixing, and creating an Antitrust Task Force to crack down on oil companies engaged in anticompetitive behavior or market manipulation. President Bush has threatened to veto this bill.
Energy Price Gouging Prevention Act – This bill will provide immediate relief to consumers by giving the Federal Trade Commission (FTC) the authority to investigate and punish those who artificially inflate the price of energy. President Bush has threatened to veto this bill.
Other Legislation
Cracking Down on Price Gouging– Gives enforcement authority to the Federal Trade Commission to investigate and punish those who artificially inflate fuel prices, similar to legislation passed last year.
“Use It Or Lose It” for Oil Companies Holding Permits and Not Drilling – Compels the oil industry to start drilling or lose permits on the 68 million acres of undeveloped federal oil reserves which they are currently warehousing, keeping domestic supply lower and prices higher.