Tampa, Jan 18, 2007 - U.S. Representative Kathy Castor today urged her colleges to stand up to big oil and vote yes on H.R. 6, the CLEAN Act of 2007.
The bill would repeal $14 billion in subsidies given to big oil companies and invest in renewable fuels to bring relief for Americans at the pump. The cut would also allow the country to begin its path to energy independence.
“Instead of giving away billions of dollars to big oil companies, which made a combined profit of $65.2 billion in the first six months of last year, the new Congress intends to chart a course in a new direction by investing in energy alternatives,” said Castor in her remarks on the House floor this morning. “Oil companies are earning record profits while we have been paying record prices. That’s wrong. This bill will help America become independent and ultimately lower the utility costs for average Americans.”
The measure would ensure oil companies that were awarded the 1998 and 1999 leases for drilling and have since then paid no royalties paid their fair share of royalties in order to be eligible for new federal leases for drilling. It would also close loopholes and end giveaways for Big Oil in the tax code and in the 2005 Energy bill.
A loophole written into the international tax bill (H.R. 4520) allowed oil companies to qualify for a tax provision intended to encourage domestic manufacturing. This loophole provided ConocoPhillips $106 million in 2005, even as it enjoyed profits totaling $13.5 billion.
“Big oil has held too much sway in the halls of Congress in past years,” Castor said. “They targeted drilling off Florida’s beautiful coastline putting our tourism industry at risk.”
The money saved from ending big oil subsidies will be applied to research to promote new sources of alternative energy at universities and research institutes such as the Clean Energy Research Center and the Center for Urban Transportation Research at the University of South Florida in Tampa.
“The Bush Administration has refused to get serious about a sensible and sustainable national energy policy, even after President Bush last year declared that our country is addicted to foreign oil,” said Castor. “What we really need is a far-sighted plan for energy independence and balanced energy resources. The Democratic Congress will plan for a more sustainable future, independent of foreign oil entanglements that interfere with foreign policy. Let’s take the first step together today and then launch a broad new energy strategy for future generations.”
H.R. 6 has received support from environmental groups like League of Conservation Voters and Greenpeace USA.
All official press releases from Rep. Kathy Castor (D-FL)
