ENERGY BILL IS SUBSIDY FEST -- (House of Representatives - July 27, 2005)
(Mr. DeFAZIO asked and was given permission to address the House for 1 minute.)
Mr. DeFAZIO. Mr. Speaker, the Wall Street Journal yesterday: It is bad enough that the energy bill has become a subsidy fest that will raise gasoline prices in more places than it reduces them, and they go on from there.
The so-called energy policy to be adopted tomorrow will raise prices at the pump for American consumers, it will increase our dependence, and this is from the Bush administration's own projections over the next 20 years on foreign oil, on Saudi Arabia and those other wonderful folks in the Middle East.
It will do nothing to mandate increases in fuel efficiency so American consumers will have better choices. It will not fund any significant amount of money for alternative fuel research or alternative technologies, or transitional technologies to move us to energy self-sufficiency.
Finally, guess what? We are going to write the American people a bill for this piece of work. The American people are going to be asked to borrow $15 billion and give it as a gift to the suffering oil, gas, and coal industry, those who have cash reserves that exceed the subsidy that they are about to get.