[Congressional Record Volume 153, Number 128 (Saturday, August 4, 2007)]
[Extensions of Remarks]
[Pages E1751-E1752]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           ALTERNATIVE FUELS

                                 ______
                                 

                              HON. TED POE

                                of texas

                    in the house of representatives

                         Friday, August 3, 2007

  Mr. POE. Madam Speaker, the State of Texas and the Nation recognizes 
the need for renewable and clean diesel fuel and other high valued 
synthetic fuels to meet the needs of the energy consumption in the 
United States.
  The current problem existing with ethanol and other alternative 
synthetic fuels is that they depend on the weather and crops available 
to produce ethanol and other additives and cannot meet the current 
demand that is needed by the United States.

[[Page E1752]]

  In addition to opening up drilling off the coast of the United 
States, our nation should determine new ways to address the ever 
growing demand for energy.
  I applaud local businesses in my district who have taken the lead in 
addressing this issue by introducing technologies for production of 
bio-diesel products from vegetable oil, animal fat, by-products and 
waste.
  The Southeast Texas region is home to some of the major refineries in 
the United States. Companies who take waste from these refineries 
(currently being disposed of in land fills) and old tires and converts 
them through their technology into non-toxic renewable ultra clean 
diesel fuel and other high valued synthetic fuels should be commended. 
This process allows for the taking of the refinery waste, which is an 
environmental problem, and converting it into a renewable diesel fuel 
that addresses our energy problem directly.
  Congress can help make alternative fuel facilities financially 
feasible by:
  Encouraging low interest private capital financing and investment for 
alternative fuel and ultra clean diesel facilities
  Supporting the use of tax-exempt bond financing for activities 
associated with the development of alternative fuel projects
  Exempting alternative fuel projects from the Bond Cap provisions of 
the IRS Code
  Permitting accelerated depreciation schedules when structuring bond 
financing for alternative fuel ultra clean diesel facilities
  Providing tax credit incentives to investors who purchase bonds to 
fund alternative fuel ultra clean diesel facilities
  Considering a way to assist with funding the upfront start up costs 
associated with these alternative fuel ultra clean diesel projects, 
which would include the engineering and developmental research that 
needs to be performed prior to seeking commercial funding for the 
project. This could be done in the form of grants or low interest 
loans.
  We need to take a course of action now to encourage these alternative 
fuel programs or we are just becoming more dependent on foreign oil 
products and will not grow or have the freedom to expand and meet our 
public's energy needs in an environmental friendly fashion.
  Southeast Texas is the energy capital of our nation. We will continue 
to lead the nation's energy needs by utilizing off shore drilling, 
nuclear power and new technologies such as bio-diesel and other 
alternative fuel programs. It is important we support local government 
and local businesses to forge ahead for our nation's energy program.
  And that's just the way it is.

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