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Shuler Supports Continued Investment in Renewable Energy

Legislation Cuts Handouts for Big Oil Companies & Protects Jobs, Environment

Representative Heath Shuler supported landmark energy legislation today that makes significant investments in renewable energy technologies to create jobs, reduce our dependence on foreign oil and strengthen our national security, while ending taxpayer-funded subsidies to big oil companies.

“As oil prices reach over $100 a barrel and gas prices soar over $3.00 a gallon, our country must invest in new technologies and renewable energy production. The economy of the 21st Century demands that we be energy independent, and this legislation takes another step toward that goal,” Rep. Shuler said. “America has led innovation around the world before, and we must now lead the world in the use, development, and production of renewable energy.”

The Renewable Energy and Energy Conservation Tax Act makes strategic investments in renewable energy sources and extends and expands important tax credits to promote renewable energy production from wind, solar, geothermal, cellulosic ethanol and other biofuels. The legislation also offers incentives for plug-in hybrid cars, and energy efficient homes, buildings, and appliances. Many of these tax credits were set to expire at the end of the year.

“By ensuring these tax credits are continued we are protecting and promoting jobs in renewable energy by showing a continuing commitment from Congress to green industries,” Shuler said. “The production of biofuels provides Western North Carolina with one of our strongest opportunities for economic development and expansion. We already have several businesses producing and selling biofuels in our area, and they are growing quickly.”

Additionally, the Renewable Energy and Energy Conservation Tax Act repeals $18 billion in unnecessary tax subsidies for large multinational oil and gas companies. Today’s vote comes on the heels of five large oil companies recent reporting of record profits for 2007, including ExxonMobil earning $40.6 billion - the largest corporate profit in American history.

“America’s energy policy must be focused on securing our long-term energy future. It is not a wise use of limited taxpayer dollars to give subsidies to industries making record profits,” Shuler said. “By producing our own energy, we create jobs here, protect the environment, and strengthen our national security.”

The Renewable Energy and Energy Conservation Tax Act, H.R. 5351, passed the House of Representatives with bipartisan support, 236-182.

Comments

Mon, 03/31/2008 - 11:24pm — Blair Pollock (not verified)

Heath Shuler's bill supporting green energy investment

This is the kind of legislation that will help NC win back some of the lost manufacturing jobs. We are extremely poor in fossil fuel resources (next to none) and rich in solar, wind and biomass. What are we waiting for.? While Duke Energy and Progress hoodwink the public with their claims of supporting energy efficiency and renewables 'sometime in the future', they are pushing to build the nuclear and coal base load plants we don't need, siphoning money and interest away from renewable energy and energy efficiency investments and ensuring a pressure to create the demand as the whole plant comes on line rather than incrementally meeting needs with smaller, more dispersed renewable sources. Building renewables matches jobs and timing of smaller increments of demand to growth.

Southern California Edison is about to install 250 Megawatts of solar photovolatic panels for power on tops of existing commercial buidlings in Ontario California area. No costly siting fight, building owners make more money leasing their rooftops, new power is on line where and when it's needed. This could be our model in NC and we need those installation type jobs!. instead we must battle against 800 Megawatt coal plants that will pollute the already polluted air in the Charlotte air basin, use valuable land and not be matched at all to the timing or smaller increments of new demand. Our sunshine isn't as strong as Southern Califiornia, but that's not the issue. We can make a solar & bioenergy economy here with the right investments and policy climate. Duke and Progress Energy are scaring the public into thinking that renewables plus energy efficiency cannot meet demand and that a coal and nuclear central power plant near term future while we must once again push the renewables off until 'later' when they are more cost effective. They are cost effective now and not changing North Carolina's energy investments is a mistake that we will all pay for in the decades to come. Stop the Cliffside Plant and other central coal and nuclear plant construction. Invest instead in efficiency, solar, wind and biofuels.