[Congressional Record Volume 153, Number 14 (Wednesday, January 24, 2007)]
[Extensions of Remarks]
[Page E190]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        CLEAN ENERGY ACT OF 2007

                                 ______
                                 

                               speech of

                          HON. BETTY McCOLLUM

                              of minnesota

                    in the house of representatives

                       Thursday, January 18, 2007

  Ms. McCOLLUM of Minnesota. Madam Speaker, I rise in strong support of 
H.R. 6, the CLEAN Energy Act, which will end federal welfare for big 
oil companies and redirect billions of dollars towards investments in a 
cleaner, more secure energy future.
  Less than two weeks into the 110th Congress, Democrats have already 
delivered real progress for American families by passing the six 
measures outlined in the 100 Hours Agenda with time to spare. The CLEAN 
Energy Act (H.R. 6) is one of these priorities. As a co-sponsor of H.R. 
6, I was proud to vote for the bill when it passed the House 264-163 on 
January 18, 2007 with the support of 36 Republican members.
  Over the past several years, U.S. taxpayer subsidies to oil companies 
have increased at a time of record-high energy prices for American 
consumers and record profits for oil companies. In 2006, the five 
largest oil companies operating in the U.S. received $97 billion in 
profits--five times their earnings in 2002. In this economic 
environment, the oil companies themselves have said most federal 
supports are unnecessary.
  The new Congress is ushering in new priorities. H.R. 6 repeals $13 
billion in subsidies that should never have been granted during a time 
of war and spiraling federal budget deficits. Specifically, the measure 
requires large oil companies that were awarded royalty-free federal 
drilling leases in 1998 and 1999 to pay their fair share or lose 
eligibility for future federal leases. It would also close loopholes 
and end giveaways for big oil in the tax code and in the 2005 Energy 
bill. In keeping with the Democrats' pledge to take America in a new 
direction, H.R. 6 reinvests these billions into a Strategic Renewable 
Energy Reserve that will be used to fund clean, renewable energy 
technologies such as home-grown biofuels.
  H.R. 6 is an important first step in reducing America's dependence on 
oil. In this new era of global terror and global warming, energy 
security is national security. Only by pursuing a bold new direction on 
energy policy will America achieve our three, interdependent goals of 
national security, economic strength and environmental protection. With 
an abundance of renewable energy sources in our backyard and clean 
energy technology companies across the state, Minnesota stands to reap 
more than its share of benefits from a new national push for clean 
energy.
  One year ago, in his State of the Union Address, President Bush 
promised to end our oil addiction. Today, the new Democratic majority 
is helping the President make good on that promise and working to 
create a more secure and prosperous future for the next generation of 
Americans.

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