Washington, DC (September 17, 2008) – Rep. Hinojosa voted in favor of comprehensive energy legislation that will help bring down energy costs, invest in renewable energy sources to create jobs in South Texas, expand domestic drilling offshore and on land and increase our security by freeing America from the grip of foreign oil. The Comprehensive American Energy Security & Consumer Protection Act was approved by a vote of 236-189.
“I was proud to cast my vote in favor of one of the most comprehensive pieces of energy legislation in two decades,” said Hinojosa. “Our legislation will produce more energy here in Texas and invest in renewable energy technologies that will diversify our nation’s energy supply. It’s the right plan to bring prices down now and give us the energy strategy we need in the future.”
The Comprehensive American Energy Security & Consumer Protection Act will roll back tax breaks for Big Oil in a time of record oil company profits and require oil companies to pay royalties already owed to taxpayers. The legislation permits offshore drilling in waters between 50 and 100 miles offshore if the state allows leasing off its coastline by enacting a state law.
The legislation also invests in wind, solar, clean coal and natural gas, 21st century energy sources with the potential to create hundreds of jobs in South Texas. The bill requires utility companies to generate 15 percent of electricity from renewable sources -- such as wind power, biomass, wave, tidal, geothermal and solar -- by 2020, which will save consumers $13 to 18 billion cumulatively by 2020 and reduce dangerous global warming emissions.
The Act also takes steps to immediately bring down the price of gasoline by temporarily releasing nearly 10 percent of the oil from the government’s stockpile – the Strategic Petroleum Reserve (SPR) – and replacing it later with heavier, cheaper crude oil.
“If Republicans like George Bush and John McCain have their way, we’ll be left with a policy that gives Big Oil more land, more oil, more taxpayer dollars, and all the record profits, while American families and businesses suffer,” added Hinojosa. “I was proud to stand up for a plan for change that will help end – not prolong – our addiction to oil.
Congress has taken critical steps to address our nation’s energy independence. Last year, Congress passed and the President signed historic 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.
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