Calls for Consumer Rebate and New Technology to Reduce Nation’s Gas Woes

Robert Friedland, Senior Vice President, Hydrogen Technology Group, Proton Energy Systems demonstrates a hydrogen pump with Senator Dodd.

Senator Dodd speaks with workers at Proton Energy Systems.

May 5, 2006
Wallingford, Ct.– Senator Chris Dodd, D-Conn., today once again called for his legislation to provide a rebate for Connecticut consumers to help alleviate skyrocketing prices at the gas pumps. He also urged the nation to invest in innovative alternative fuel technology that would help lesson the nation’s dependence on foreign oil and gas and provide for a cleaner environment. Dodd this morning toured Proton Energy Systems in Wallingford, Connecticut, which is currently working on a technology that only relies on water for power generation.

“Consumers are being battered by sky-high prices at the pump. We need to try to get them some relief today but also invest in cutting-edge technology that can make a difference tomorrow,” said Dodd. “I intend to fight to ensure that we seek to invest in the kind of cutting-edge technology that can lower energy costs and make us more energy independent.”

Dodd is the chief co-author of legislation to provide a rebate to American consumers to help them recoup higher energy costs. Under the plan, consumers would be rebated 50% of the oil companies’ windfall profits (derived from sales of oil at more than $40 per barrel) unless those profits were re-invested in additional exploration and refining capacity or alternative sources of energy, and other projects that would expand energy supplies and help bring prices down.

Dodd is also a cosponsor of legislation to help ensure that the Federal Trade Commission has the tools to investigate and prosecute price gouging by oil companies. He also supports greater fuel efficiency efforts.

Walter Schroeder, President, Distributed Energy Systems Corporation, and Robert Friedland show Senator Dodd one of Proton Energy's hydrogen generators.