Last week the price of oil surpassed $100 per barrel for the first time ever. American families are hurting from these record prices. Gas prices are up 17 cents in just the last 2 weeks. Since 2001 when President Bush came into office, gas prices have doubled, up to $3.13 a gallon from $1.47 in 2001. At the same time, oil company profits have tripled, from $30 billion in 2001 to $123 billion in 2007. ExxonMobil alone had a profit of $40 billion, $132 for every American citizen. It's time our country set a new direction for energy policy by taking advantage of America's greatest resource, our ingenuity and our innovation. This legislation embraces this goal. It accelerates the use of clean domestic renewable energy sources and alternative fuels through long-term extension of production tax credits. This legislation increases research, development and deployment of clean, renewable energy-efficient technology, and this legislation promotes the use of energy-efficient products and conservation, including a provision for energy-efficient commercial buildings, which I introduced as separate legislation called the Buildings for the 21st Century Act.
Editor's note · Context
Addressing rising oil prices and advocating for new energy policy and legislation.
Share
More from John Schwartz
The National Institutes of Health faces significant cuts to basic scientific research funding this fiscal year. These cuts threaten America's capacity to cure diseases, treat chronic and acute conditions, and find new technologies that…
I rise this evening in strong support of the Jobs Protection and Recession Prevention Act of 2012. By passing this bill, Congress provides economic security and certainty for middle class families. This legislation, which passed the Senate…
As August begins, millions of young people across the country are preparing to head off to college. Fall brings not only a return to course selection and roommates and football games but also to high college tuition bills. In my home State…
I appreciate the ranking member's comments and his good work and important work on the plan, the Republican plan and the Democratic alternative. Let me start by saying very clearly, once again, House Republicans are taking a shortsighted…





