If enacted, the majority staff draft circulated by the Committee would be a landmark step in the development of the United States' renewable energy economy.

FFP applauds the Committee for advancing the discussion of a national RES, which FFP wholeheartedly supports.

A Federal RPS proposal, such as that proposed by Senator Bingaman, could easily increase rates in the Southeast by 5 to 6%.

Marine and hydrokinetic renewable energy is defined in the Tax Code, 26 U.S.C. Sec. 45.

This will lead to greater amounts of renewable energy than if the Bingaman proposal preempted state opportunities to promote renewable energy.

I'm here, obviously perhaps, to urge the support and the passage of a national RPS.

This is, in my view, a national security imperative, that we find ways, and start planning for that time in the future.

The RPS has been estimated to create, if passed in its current form as proposed, 185,000 new jobs, $66 billion in new investment.

It's time that we finally pass this provision in both houses and include it in legislation that we send to the President.

The renewable standard can reduce our dependence on fossil fuel sources, can reduce emissions of greenhouse gases and other pollutants.

I commend you for this important legislation.