Energy
Now more than ever, our nation needs an energy policy that will enhance our national security by reducing our dependence on foreign oil. To do this, we must reduce our reliance on fossil fuels with increased conservation, fuel efficiency and development of alternative energy sources. We have only three percent of the world’s petroleum reserves and consume twenty five percent of the world’s oil. It will take more than an increase in domestic oil production to move our nation to energy independence.
It makes good economic sense to use our energy resources more wisely and efficiently. Stronger energy efficiency standards for buildings and appliances can lower our energy costs and extend the life of our current energy supply. Also, stronger Corporate Average Fuel Economy (CAFE) standards, the fuel efficiency standards for vehicles, will save millions of barrels of oil a year. We have the technology to do this. The National Academy of Sciences (NAS) found that existing technology can improve automobile and light truck fuel economy with net savings to consumers. Moreover, NAS stated that technologies not considered in their study, such as diesels and hybrids, could provide a 20-40 percent improvement in fuel economy in existing models.
We should also encourage the development of alternative energy sources. As a member of the Renewable Energy and Energy Efficiency Caucus, I support policies that encourage the development of clean and renewable energy sources such as solar, geothermal, biodiesel and wind power through tax credits and funding for research and development. The federal government has made some notable efforts to encourage the use of these energy alternatives, but more work needs to be done.
As a member of the House Ways and Means committee, I have worked hard to provide homeowners and businesses with the tools they need to invest in renewable energy. I also am working on new legislation to expand the domestic production and use of solar energy, clean energy storage and industrial energy efficiency.
Increased domestic investments in solar is especially important. Solar is the largest source of renewable energy in our country – representing 80 percent of all domestic renewables. However, we are falling behind in producing solar panels domestically. Only 15 years ago the U.S. produced 40 percent of the world’s solar panels. By 2008, our share had fallen to just over five percent. In order to bring our share of solar panels produced domestically to just 10 percent, we need to make four times as many solar panels because other countries are adding capacity, too. My solar bill will provide both small and large domestic solar manufacturers the incentives to invest at home and dramatically increase our production to better compete on a global scale. Not only is this good for the environment, but it’s good for jobs. Solar energy creates more jobs per megawatt of energy produced than any other form of energy. Independent analysts estimate that my solar legislation will create 160,000 new solar related jobs across the country.
Our need for a balanced and effective energy policy has never been greater. Our national security as well as the health of our economy can no longer be dependent on costly foreign oil. You may be certain that I will continue to work with my colleagues in Congress to bring about fundamental changes in our nation’s energy policy.
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