Douglas Alexander: “when I go home on the Fourth of July and my constituents ask what I did about high natural gas prices, high gasoline…”

“when I go home on the Fourth of July and my constituents ask what I did about high natural gas prices, high gasoline prices, about our competition with China and Japan and India to keep our jobs, I am going to tell them I voted no on the Bingaman amendment to order utilities to make 10 percent of their energy from a limited number of renewable fuels, because it is an $18 billion electric rate increase over 20 years. At a time of high natural gas prices, high gasoline prices, the last thing we should do is an $18 billion electric rate increase over 20 years. The distinguished Senator from New Mexico will tell us that it will be offset by natural gas reductions, but that is only if there is a $5 natural gas rate in 2025. One thing we know is, it is a big electric rate increase when we should be reducing prices. The PRESIDING OFFICER. The Senator from New Mexico.”