[Congressional Record (Bound Edition), Volume 154 (2008), Part 10]
[Extensions of Remarks]
[Page 14122]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          EXTENSION OF REMARKS

                                 ______
                                 

                         HON. MARK STEVEN KIRK

                              of illinois

                    in the house of representatives

                        Thursday, June 26, 2008

  Mr. KIRK. Madam Speaker, in the past 10 years, the price of crude oil 
has risen by more than 400 percent, accounting for much of the nearly 
200 percent increase in gasoline prices during that time. America 
should have spent the past decade investing in renewable energy and 
infrastructure, but we instead remain the number one importer of oil. 
Foreign oil accounts for 23.5 percent of United States energy 
consumption, the largest component of our energy profile. To meet its 
needs, the U.S. spends over $100 billion on foreign oil, helping to 
sustain corrupt political systems and state terrorism. This will 
continue to persist as long as we are dependent on oil, as nearly two-
thirds of proved world oil reserves reside in countries considered 
``not free'' by leading human rights organizations.
  America's dependence on oil is a threat to our national security, 
economic prosperity and environmental sustainability.
  Forty-five years ago, President Kennedy pledged to send man to the 
moon. We need a similar ``moon shot'' program to end our dependence on 
foreign oil. The bill I stand here to introduce, the Apollo Energy 
Independence Act, taps the greatest asset of the United States, Yankee 
ingenuity and free markets, to boost alternative vehicles and increase 
renewable energies to get off foreign oil. By cutting funding for low-
priority programs, we can fund a massive effort to end our dependence 
on the Middle East.
  The Apollo Energy Independence Act first and foremost permanently 
extends investment tax credits for renewable energy such as wind; 
closed-loop biomass; open-loop biomass; geothermal; small irrigation; 
hydropower; landfill gas; marine power; trash combustion facilities; 
solar energy property; fuel cell property; microturbines; and nuclear 
energy. The bill also permanently extends a number of energy efficiency 
tax incentives.
  Each Congress, lawmakers scramble at the last minute to renew these 
effective incentives, then shortsightedly extend them for just a short 
period. This has undoubtedly stifled the growth of our renewable energy 
industry. Some studies estimate that renewable energy could supply up 
to 37 percent of our electricity needs by 2030, resulting in $700 
billion in economic activity and 5 million new U.S. jobs by 2025. Yet 
in years which the production tax credit is set to expire, investments 
significantly decline. In the wind energy sector alone, investments 
drop an average 80 percent every other year when the credits expire. In 
order to realize our full renewable potential, it is absolutely 
essential that we provide long-term incentives to engender enough 
market confidence to generate sustained investment.
  If the proposals established in the Apollo Energy Independence Act 
are implemented, renewable energy use could increase by more than 320 
percent and comprise the largest segment of U.S. energy use. Foreign 
oil use would plummet by more than 730 percent, based on estimates from 
the National Hydrogen Association (NHA), the American Council on 
Renewable Energy (ACORE) and the Energy Information Administration 
(EIA).
  The Apollo Energy Independence Act also establishes a number of 
permanent tax incentives to purchase and produce advanced vehicle 
technologies and alternative fuels, such as cellulosic and hydrogen 
fuel. The legislation also permanently extends the hybrid tax credit, 
increases it by 50 percent and eliminates the obstructive limitation. 
Since current law limits the hybrid tax credit to just the first 60,000 
vehicles, the full credit was available for the most popular vehicles 
for just 9 months after its establishment. The quarter in which the 
credit began to phase out, Toyota saw its hybrid vehicle sales decline 
by nearly 30 percent. My legislation repeals this limit to facilitate 
the constant proliferation of hybrid vehicles.
  In order to spur the development and deployment of even more advanced 
vehicles, we establish an advanced vehicle technology credit for plug-
in electric drive, fuel cell and flexible fuel vehicles. But our 
failure to fully deploy alternative fuels and vehicles is not simply a 
lack of development, it also stems from a lack of proper 
infrastructure. My legislation increases and makes permanent the 
alternative fueling property credit. It also provides a steady funding 
stream, via Corporate Average Fuel Economy penalties, to the Department 
of Energy's Clean Cities Initiative, which establishes local public-
private partnerships to find alternative fueling infrastructure 
solutions to reduce our oil consumption.
  Americans currently import 12 million barrels of oil daily. The 
policies of the Apollo Act could decrease foreign oil consumption by up 
to 10 million barrels per day by 2030, according to a study 
commissioned by the NHA. At today's crude oil prices, this would save 
America over $500 billion annually.
  The bill establishes a number of other measures to help consumers 
reduce their energy and gasoline costs, including providing market 
incentives to boost public transportation use, reducing costly boutique 
fuels, providing grants for green school improvements and eliminating 
ethanol tariffs.
  To fund this effort, the legislation cuts Federal funding for 
congressional earmarks and agriculture subsidies while consolidating a 
number of lower priority Government functions. By spurring new energy 
technology, resulting spin-offs promise to generate additional economic 
growth and jobs. According to NASA, since 1976 more than 1,500 
technologies emerged from the space program, creating thousands of new 
jobs and industries.
  The United States spent $19.5 billion to realize one of her most 
prestigious accomplishments--landing on the moon. We should invest in a 
similar national effort that will be equally important for the 
sustainability of our society and could have even far more reaching and 
long-term benefits than the Apollo program. I hope my colleagues will 
join Representatives Judy Biggert, Christopher Shays and me in taking 
the first step toward achieving this goal and support the Apollo Energy 
Independence Act.

                          ____________________