Charles Pickering on Energy & Oil

Voted NO on tax incentives for renewable energy.

• Production Incentives: Extends through 2011 the tax credit for the production of electricity from renewable resources (e.g., wind, biomass, geothermal, and hydropower).
• Extends through 2016 the energy tax credit for investment in solar energy and fuel cell property.
• Allows a new tax credit for the production of plug-in hybrid vehicles.
• Extends through 2010 the tax credits for biodiesel (including agri-biodiesel)
• Allows an alcohol fuels tax credit for the production of qualified cellulosic alcohol fuel.
• Denies the tax deduction for income attributable to domestic production of oil, gas, or any related products.

SUPPORTER'S ARGUMENT FOR VOTING YES:Rep. MATSUI: Today's debate is about investing in renewable energy, which will chart a new direction for our country's energy policy. This bill restores balance to our energy policy after years of a tax structure that favors huge oil companies. Today's legislation will transfer some of the massive profits enjoyed by these oil companies and invest them in renewable resources that will power our economy in the future.

OPPONENT'S ARGUMENT FOR VOTING NO:Rep. SMITH of Texas: I oppose H.R. 5351. While it is well and good to encourage alternative energy development, Congress should not do so by damaging our domestic oil and gas industry. In 2006 all renewable energy sources provided only 6% of the US domestic energy supply. In contrast, oil and natural gas provided 58% of our domestic energy supply. The numbers don't lie. Oil and natural gas fuel our economy and sustain our way of life.

Furthermore, almost 2 million Americans are directly employed in the oil and natural gas industry. Punishing one of our Nation's most important industries does not constitute a national energy policy.

LEGISLATIVE OUTCOME:Bill passed House, 236-182

Voted NO on investing in homegrown biofuel.

Proponents support voting YES because:

Rep. PELOSI: This bill makes the largest investment in homegrown biofuels in history. We know that America's farmers will fuel America's independence. We will send our energy dollars to middle America, not to the Middle East.

Rep. TIERNEY: This bill incorporates the Green Jobs Act, which will make $120 million a year available to begin training workers in the clean energy sector. 35,000 people per year can benefit from vocational education for "green-collar jobs" that can provide living wages & upward mobility.

Opponents recommend voting NO because:

Rep. SHIMKUS: I'm upset about the bill because it has no coal provisions. What about coal-to-liquid jobs? Those are real jobs with great wages. Energy security? We have our soldiers deployed in the Middle East because it's an important national security interest. Why? We know why. Crude oil. How do we decrease that importance of the Persian Gulf region? We move to coal-to-liquid technologies. What is wrong with this bill? Everything. No soy diesel. No ethanol. No coal. Nothing on nuclear energy. No expansion. There is no supply in this bill. Defeat this bill.

Rep. RAHALL: [This bill omits a] framework to sequester carbon dioxide to ensure the future use of coal in an environmentally responsible fashion. We can talk about biofuels all we want, but the fact is that coal produces half of our electricity for the foreseeable future. We must aggressively pursue technologies to capture and store the carbon dioxide.

Rated 0% by the CAF, indicating opposition to energy independence.

OnTheIssues.org interprets the 2005-2006 CAF scores as follows:

• 0% - 30%: opposition of energy independence (approx. 206 members)
• 30% - 70%: mixed record on energy independence (approx. 77 members)
• 70%-100%: support for energy independence (approx. 183 members)

The Campaign for America's Future (CAF) is a center for ideas and action that works to build an enduring majority for progressive change. The Campaign advances a progressive economic agenda and a vision of the future that works for the many, not simply the few. The Campaign is leading the fight for America's priorities--against privatization of Social Security, for investment in energy independence, good jobs and a sustainable economy, for an ethical and accountable Congress and for high quality public education.

About the CAF report, "Energy Independence: Record vs. Rhetoric":

Energy independence has surfaced as a defining issue in the current elections. Are most candidates and both parties truly committed? To help distinguish the demonstrated level of support for homegrown, clean energy alternatives, we examined the voting records of current U.S. Representatives and Senators on bills vital to promoting those interests. Key pieces of legislation included goals for independence, and subsidies for the development of alternatives compared to subsidies for drilling and digging. We then compared votes on these issues with campaign contributions from major oil interests. The results show strong inverse correlations between political contributions from big oil and votes for energy independence.