Higgins Hails Energy Legislation
WASHINGTON, D.C. - The U.S. House of Representatives recently passed House Resolution 6899, the Comprehensive American Energy Security and Consumer Protection Act.
The energy measure is designed to decrease costs to consumers and American taxpayers, invest in renewable energy sources to create American jobs, expand domestic energy supply and create greater energy efficiency and conservation.
''This is the home-grown American-owned energy policy that American consumers and businesses deserve,'' said U.S. Rep. Brian Higgins, D-South Buffalo. ''This compromise legislation makes our country safer, more secure and less dependent on foreign sources of oil.''
Among its provisions, the Comprehensive American Energy Security & Consumer Protection Act will roll back tax breaks for large oil companies in a time of record oil company profits and require oil companies to pay royalties already owed to taxpayers. Due to flawed leases granted in 1998 and 1999, oil companies holding 70 percent of the leases issued in the Gulf of Mexico from 1998 and 1999 pay no royalties on this oil, costing American taxpayers about $15 billion.
''Big Oil has been making record profits while hardworking Americans have been struggling to make ends meet. This legislation will send that money back to American taxpayers where it belongs,'' Higgins said.
The legislation will also invest in wind, solar and natural gas, 21st century energy sources to create millions of jobs; extend and expand tax incentives for renewable energy, responsibly open up additional offshore areas for drilling with oil companies footing the bill instead of taxpayers; and release oil from the government's stockpile to bring down gas prices.
H.R. 6899 is the 110th's Congress latest reform designed to make the United States more energy independent. In 2007, Congress passed and President Bush signed 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.
|
TSullivan
|
|
|---|---|
|
09-18-08 11:21 AM
|
Pure baloney (balogna?) Congressman Higgins. HR 6899 is a FRAUD. Mr Higgins says the act would make us less dependent on foreign oil, but in fact it does the opposite. While it opens some areas to offshore drilling, it is carefully crafted to strengthen the ban on drilling where the oil actually is. Specifically, drilling is banned within 50 miles of the coast. That is where the proven reserves are. To say that this makes us more energy independent is to lie. This is nothing more than a political fig leaf designed by Democrats to mislead the public, to make us believe the party wants more oil, when in truth they want less. And profits? The real profiteer is government. From 1981 to 2006 oil companies made $867 billion. In the same period they paid taxes of $1.2 TRILLION, says Investors Business Daily (7/4/08). Will Mr. Higgins please explain how even more taxes will increase oil production or lower the price of gasoline?
|




