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A New Direction for America's Energy Policy
Democrats will punish price gouging by Big Oil & help consumers
Republican Record:
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Record gas prices at the pump, topping $3 per gallon – double the price in 2001
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Record CEO benefits and pay
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Failed to enact tough legislation to crack down on price gouging and voted against it three times
Democrats Propose:
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Investigate and punish price gouging by Big Oil
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Impose tough criminal penalties of up to $100 million on corporations
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Provide relief for consumers, farmers and small businesses by repealing subsidies for Big Oil
Democrats will stop $33 billion in tax breaks and subsidies for Big Oil
Republican Record:
Democrats Propose:
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Repeal at least $4 billion in tax breaks and new subsidies from the Energy Policy Act
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Repeal royalty relief, saving taxpayers up to $20 billion over the next 25 years
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Repeal $8.6 billion in tax loopholes for energy and large oil companies [H.R.5218, H.R. 5234]
Democrats fight for energy independence by investing in the Midwest, not the Middle East
Republican Record:
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Record dependence on foreign oil – climbing to 65 percent
U.S. is sending $1 billion per day to the Middle East and other oil producing countries
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Bush Budget funds renewable energy and energy efficiency at below the 2001 level, in real terms, and provides nearly 50 percent less for research on renewable energy than was promised in the new energy law.
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Budget cuts Renewable Energy Systems and Energy Efficiency Improvements Program in the Farm Bill by $20 million. [S 1932, Vote #4, 2/1/06]
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Blocked amendments to invest in alternative energy, innovation and energy efficiency, and research in production of American-made biofuels. [Vote #194, 5/24/06; #179, 5/23/06]
Democrats Propose:
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“ Democrats are united in presenting a New Direction for America, one that will make our nation as strong as its people, one that brings opportunity, security, and prosperity to all Americans. ”
Democratic Leader Nancy Pelosi
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