John Carney: “My point is that the industry itself is doing this research and development and should do it without a Federal subsidy.…”

“My point is that the industry itself is doing this research and development and should do it without a Federal subsidy. I mentioned the full-page ad in today's edition of The Hill newspaper, which says that they are doing this. We shouldn't be subsidizing an industry that's mature and profitable. We need to be spending money on renewable energy sources so that we can reduce greenhouse gas emissions. Instead, in this continuing resolution, we're cutting $2 billion out of research and development for new energy sources. I don't object to research and development going on for traditional oil and gas industry, but the industry itself ought to be doing that research.”