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Rep. McDermott Remarks on Energy Legislation
Rep. Jim McDermott (D-WA)
Remarks
H.R. 5351 - House of Representatives
February 27, 2008

Mr. Speaker:
Big Oil has America over the proverbial barrel. Not only are we paying over $100 a barrel for oil; paying over $3.30 a gallon at the pump, and it could soon hit $4 a gallon; not only are oil companies piling up record profits of $10 billion a quarter; but the American people also are sending truck loads of taxpayer cash to fatten Big Oil’s wallet even more.

The legislation before us today would stop the madness of the American people subsidizing oil companies after they got their Republican friends in the White House and the People’s House to give them a windfall they didn’t earn, deserve, or need. And, the legislation before us today would keep America on course to a sustainable, renewable energy future. We can dramatically reduce energy consumption by dramatically increasing energy efficiency and this bill does that.  Using tax credits and interest free financing to partner with the American people to enable them to renovate their homes to reduce consumption and install efficient appliances.

We can dramatically increase the development and deployment of alternative fuels like biodiesel, and produce advanced biodiesel fuels with an even lower carbon footprint, and this bill goes in that direction. We can dramatically increase the development of clean and renewable resources like solar, and this bill does that.  Extending the Investment Tax Credit for solar energy production will keep 240 million tons of CO2 out of the atmosphere.  It’s like parking 52 million cars. 

Today, we declare that America will not permit corporate greed to force the American people to choose between food on the table or fuel to heat their home or get to work. Today, we declare that Congress will put the American people ahead of Big Oil. Today, we declare that America will power tomorrow with clean, renewable and sustainable resources.  Today, we declare we will consume less power tomorrow.

I urge my colleagues to pass this legislation and declare the dawn of a new day in America, when the rising sun not only symbolizes the hope for a new day, but delivers the energy for a new tomorrow.
Thank you.