04.07.08
Maria's Monday Memo
Fighting to Stop Loss in Clean Energy Jobs and Investment
With American families and businesses struggling under increasing electricity bills coupled with a downturn in the economy, last week I introduced The Clean Energy Tax Stimulus Act of 2008 with Senator John Ensign (R-NV). This bipartisan bill, which has the support of 38 cosponsors, will extend expiring clean energy tax incentives critical to continuing our nation’s investment in renewable energy from wind and solar resources as well as installation of energy efficient equipment and products. Passage of this bill will create jobs, save people and businesses money, and reduce energy costs over time. While the renewable and efficiency industries have been booming the last few years, creating thousands of jobs and diversifying our energy supply, unless both houses of Congress pass this bill within in the next few weeks we stand to lose over $20 billion of anticipated investment in 2008 delayed or cancelled. Such a delay would also result in more than 100,000 U.S. jobs lost at a time when the country is skidding into a recession, and energy prices keep getting higher. Earlier this year, I spearheaded efforts to include the energy tax incentives in the economic stimulus package. While the incentives were included in the Finance Committee package, it fell one vote short of passage by the full Senate in the final stimulus bill.
Oil Market Fundamentals Do Not Support Outrageous Oil Prices
Last Thursday, I raised concerns over record oil prices during an Energy and Natural Resources Committee hearing on what role excessive speculation in the financial markets might be having in the unprecedented increase in world oil prices. Today, oil is over $100 per barrel and gas prices are at the highest average price ever recorded at $3.28 per gallon nationally, and $3.48 in Washington state. The Committee took testimony from the Commodity Futures Trading Commission, oil industry experts, and gasoline retailers. I am very concerned that the American people have lost confidence in whether or not the amount they are paying at the pump is fair. It is time for Congress to regulate the out-of-control oil markets and bring back affordable and stable oil production costs. Federal regulators need to act and Congress must give them clear and direct authority to tackle these issues. During the hearing, I cited anExxon Mobil executive who testified in the House of Representatives earlier that week that he thought that, based on supply and demand fundamentals, the price of oil should be about $50-55 per barrel. I noted that those estimates stood in sharp contrast to the estimates of federal regulators and questioned the veracity of their oversight efforts into the energy markets that underpin our economy.
I will continue working with my colleagues on both sides of the aisle to increase America’s energy independence, level the playing field for new renewable and energy efficiency technologies, boost our domestic biofuels industry, and increase the availability of flex-fuel vehicles and biofuel pumps.
Time for Mining Law Reform
Last week, I authored a letter, signed by 15 of my colleagues, to Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-NM) and Ranking Member Pete Domenici (R-NM) urging them to support mining law reform that balances the needs of the modern mining industry with the rights of future generations to enjoy our country's public lands. As stated in the letter, “The federal law that governs mining of hardrock minerals on more than 350 million acres of public lands dates back to 1872, long before the advent of environmental protection policies and long before Americans were traveling by the millions to enjoy our rich, shared heritage. The American public’s appreciation for its public lands has grown dramatically in the last 135 years and the 1872 Mining Law remains an odd anachronism of public policy that does not adequately protect our nation’s natural resources.”
I will continue to support mining law reform that balances the needs of the modern mining industry with the rights of future generations to enjoy and care for the irreplaceable treasures bestowed by our public lands.
Statewide Listening Tour: “Jobs for Us, Jobs for Our Kids”
During the recent Congressional work period, I hosted a series of leadership roundtables, “Jobs for Us, Jobs for Our Kids,” with key regional business and community leaders in Vancouver, Seattle, Spokane, Bellingham and Tumwater. For years, I have relentlessly worked on behalf of U.S. workers to ensure they have the support and training they need to compete in a global economy. During the roundtables, I joined industry, higher education, labor and workforce development experts for a conversation on how to create successful partnerships that will help America, and Washington state, maintain its competitive edge. I believe the only way that America can stay competitive in a global economy is if our workers have the best training and the best lifelong education programs. It is clear we need a new national commitment to invest in the skills of the American workforce, and I will keep fighting to make sure our communities have everything they need to support U.S. employees and employers.
Based on the information gathered at these roundtables, I will return to Washington, D.C. to garner more support from my colleagues in the Senate to create the strongest workforce of the 21st Century.
# # #
With American families and businesses struggling under increasing electricity bills coupled with a downturn in the economy, last week I introduced The Clean Energy Tax Stimulus Act of 2008 with Senator John Ensign (R-NV). This bipartisan bill, which has the support of 38 cosponsors, will extend expiring clean energy tax incentives critical to continuing our nation’s investment in renewable energy from wind and solar resources as well as installation of energy efficient equipment and products. Passage of this bill will create jobs, save people and businesses money, and reduce energy costs over time. While the renewable and efficiency industries have been booming the last few years, creating thousands of jobs and diversifying our energy supply, unless both houses of Congress pass this bill within in the next few weeks we stand to lose over $20 billion of anticipated investment in 2008 delayed or cancelled. Such a delay would also result in more than 100,000 U.S. jobs lost at a time when the country is skidding into a recession, and energy prices keep getting higher. Earlier this year, I spearheaded efforts to include the energy tax incentives in the economic stimulus package. While the incentives were included in the Finance Committee package, it fell one vote short of passage by the full Senate in the final stimulus bill.
During the recent Congressional work period, I hosted a series of leadership roundtables, “Jobs for Us, Jobs for Our Kids,” with key regional business and community leaders in Vancouver, Seattle, Spokane, Bellingham and Tumwater. For years, I have relentlessly worked on behalf of U.S. workers to ensure they have the support and training they need to compete in a global economy. During the roundtables, I joined industry, higher education, labor and workforce development experts for a conversation on how to create successful partnerships that will help America, and Washington state, maintain its competitive edge. I believe the only way that America can stay competitive in a global economy is if our workers have the best training and the best lifelong education programs. It is clear we need a new national commitment to invest in the skills of the American workforce, and I will keep fighting to make sure our communities have everything they need to support U.S. employees and employers.
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