Washington, DC: Today the House of Representatives
voted 264-163 (36 R’s voted
with us, 4 D’s against) to pass “The C.L.E.A.N. Energy Act of 2007,”
(H.R. 6) which would close some tax loopholes for big oil companies, and
recover royalties from oil and gas produced in public waters. H.R. 6 will
shift more than $14 billion from these subsidies to investments in clean
energy, such as energy efficient technologies and renewable power. The
bill was the last of the six bills brought up for consideration during the
House’s first 100 legislative hours.
“Today the 110th Congress made a down payment on a new
energy future,” said Jennette Gayer with Environment Georgia. “Their investment
in renewable energy and energy efficiency will help protect our environment and
our economy,” continued Gayer.
H.R. 6 would establish a “clean energy fund” that would
create incentives for and investments in energy efficient and renewable energy
technologies. These funds could:
-Spur the construction of wind and solar energy
power generation facilities;
Save Georgians money on their energy bills with
incentives for energy efficient appliances, buildings, and equipment;
Enable more Georgians to purchase gas-saving
hybrid cars and trucks
The resources for the fund would come from the elimination
of more than $14 billion in subsidies and tax breaks that benefit oil and gas
companies that made record profits over the past few years. The bill
would provide a strong incentive for oil companies to renegotiate offshore
drilling leases signed in 1998 and 1999 that provided unlimited royalty
relief. It would also repeal several royalty relief provisions authorized
in the Energy Policy Act of 2005.
A recent study by the U.S. Department of Interior found that
royalty relief has led to “only a tiny increase in production,” (New York Times,
12/22/06) but would cost nearly $48 billion over the next 40 years.
The bill would also prevent major oil companies such as
ExxonMobil from claiming a tax break for “geological and geophysical”
expenditures enacted in 2005. It would also remove a tax benefit from 2004 that
lowers the income tax rate paid by oil companies by reclassifying oil and gas
production as a manufactured good.
“More than ever, America needs a new direction on
energy policy. With the passage of the Clean Energy Act of 2007, Congress has
sent a clear message that they are ready to start solving our energy problems.
Environment Georgia applauds
Reps. Bishop, Johnson, Lewis and Scott for co-sponsoring and supporting this
critical step toward a new energy future, we are disappointed that Georgia’s Republican delegation and Reps. Barrow
and Marshall
voted against the measure.” said Gayer.
Environment Georgia is a statewide non-profit,
non-partisan environmental group that works for clean air, clean water and
green spaces. It is the new home of Georgia PIRG’s environmental work.
