Washington, D.C.--The following is a statement from Congressman Eliot Engel presented to the House of Representatives on February 4, 2009, regarding the urgent need to increase funding to develop renewable energy projects and create “green collar jobs.”

"Madam Speaker,

"I rise to discuss an article in today’s New York Times - confirming that renewable energy industries – especially wind and solar – have been slowed significantly by the credit crisis and the broader economic downturn. (To read the article - http://www.nytimes.com/2009/02/04/business/04windsolar.html?_r=1&ref=business)

"I believe that we should not allow frozen credit markets to derail renewable-energy projects, and we cannot allow reduced oil prices to lull us into complacency.

"We have an opportunity to address both of these concerns by working with the Senate, and with the Obama Administration, to pass the economic recovery package into law.

"I believe that the recovery package must extend tax credits for biofuels, wind, and solar. It must make infrastructure investments. It must increase federal dollars for energy research, development, and deployment. And it must encourage the production of alternative fuel motor vehicles, including plug-in electric drive vehicles.

"The time to act is now. A clean, green recovery package is our nation’s best path to restoring our economy, and our best chance of creating jobs that cannot be outsourced.

"Thank you."

Congressman Eliot Engel is a senior member of the Energy and Commerce Committee’s Subcommittee on Energy and the Environment. Congressman Engel is the lead sponsor of the DRIVE (Dependence Reduction through Innovation in Vehicles and Energy) Act and the author of the Open Fuels Standards Act.