Dan Maffei on Energy & Oil

Tax windfall profits to invest in renewable fuels

Voted YES on enforcing limits on CO2 global warming pollution.

1. issuing, trading, and verifying renewable electricity credits; and
2. prescribing standards to define and measure electricity savings from energy efficiency and energy conservation measures.

Proponent's argument to vote Yes:Rep. ED MARKEY (D, MA-7): For the first time in the history of our country, we will put enforceable limits on global warming pollution. At its core, however, this is a jobs bill. It will create millions of new, clean-energy jobs in whole new industries with incentives to drive competition in the energy marketplace. It sets ambitious and achievable standards for energy efficiency and renewable energy from solar, wind, geothermal, biomass so that by 2020, 20% of America's energy will be clean.

Opponent's argument to vote No:Rep. BOB GOODLATTE (R, VA-6): I agree that this bill has very important consequences, but those consequences are devastating for the future of the economy of this country. It's a fantasy that this legislation will turn down the thermostat of the world by reducing CO2 gas emissions when China & India & other nations are pumping more CO2 gas into the atmosphere all the time. We would be far better served with legislation that devotes itself to developing new technologies before we slam the door on our traditional sources of energy like coal and oil and and nuclear power. We support the effort for energy efficiency. We do not support this kind of suicide for the American economy. Unfortunately, cap and trade legislation would only further cripple our economy.