A New Direction Energy Policy

Floor Speech

A NEW DIRECTION ENERGY POLICY -- (House of Representatives - September 16, 2008)

(Mr. WALZ of Minnesota asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. WALZ of Minnesota. Mr. Speaker, it is true: The Bush-Cheney energy plan has been a giant success, but for big oil companies, not the American people. America is still addicted to foreign oil, and gas prices are through the roof.

It's time for a new direction in our energy policy. This week, House Democrats are bringing up that legislation. I was proud to work with a bipartisan group of Democrats and Republicans to craft a piece of legislation. Many of those ideas are incorporated into this plan. It invests in renewable energy, responsibly increases domestic supply by opening up the Outer Continental Shelf for drilling and releases oil from the Strategic Petroleum Reserve.

One thing it does that is very good, it eliminates unnecessary tax breaks and subsidies to Big Oil and asks them to pay their fair share of royalties so we can invest in renewables.

All Americans, Republicans and Democrats, who believe it is time for our country to move in a new direction towards energy independence should join us and move this ball forward. This legislation will create millions of good-paying American jobs in the renewable energy industry, and it will begin to break the stranglehold of foreign oil over this Nation.

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