As a member of the
House Energy and Commerce Committee, I am working to promote a comprehensive
energy strategy which invests in renewable fuels, promotes conservation, and
seeks to reduce energy prices. I believe we can both slow the effects of
climate change and reduce energy prices by promoting sustainable policies
which invest in new technologies and put the needs of consumers, not energy
companies, first.
Chicago area residents paid 25% more to heat their homes during the winter of
2005-2006. The Energy Information Administration has projected that gasoline
prices will be 25 cents, or 11 percent, higher during the summer of 2006.
While the incomes of average Americans have stagnated, skyrocketing energy
prices are stretching the wallets of millions of Americans.
I believe we must take immediate action to bring down energy prices. The Bush
Administration and Republicans in Congress have supported legislation which
has provided energy companies with billions of dollars in subsidies and tax
breaks even as they make record profits.
We must consider a number of policy options to reduce energy prices,
including:
► Giving the
federal government new legal authority to hold individual oil and gas companies accountable for price gouging.
► A federal tax
on windfall profits earned by engaging in price gouging.
► Temporary price
caps on domestic oil.
► Expediting the
spread of fueling stations which carry E85 (an 85% or higher ethanol blend) throughout the country.
► Providing
incentives for American automobile manufacturers to more quickly produce and bring to market hybrid and duel-fuel capable vehicles.
► Investing in
renewable fuels such as solar, wind, hydrogen, and biomass.
► Promoting
energy conservation by raising fuel efficiency standards and helping
Americans make their homes more energy efficient.
