Issue Position: Energy
Businesses and consumers in Connecticut and across our country need a safe, reliable, and affordable supply of energy. Senator Dodd has always believed that renewable sources of energy, innovative technology, and conservation must play an important role in ensuring our energy security in the 21st century. Fuel cell technology is an important and emerging industry in Connecticut. This technology is good for the economy and the environment because it can create new jobs, reduce our dependence on foreign oil, and lesson the effects of pollution from older power plants. Senator Dodd feels that we cannot afford to drill our way to energy security. We must be careful that in a rush to build new energy facilities, we do not harm the environment or base our energy future on finite supplies of non-renewable fuels.
Businesses and consumers face high transportation energy costs and skyrocketing energy heating costs. Senator Dodd believes that the Energy bill that became law in August, 2005 does absolutely nothing to curb current energy costs. Projections call for heating oil prices to increase 30 percent over last year and natural gas prices to rise by 50 percent. These high prices impose significant hardships on consumers, small businesses, and schools and have a ripple effect across the economy. To ease the risk and burden of price shocks, Sen. Dodd authored legislation creating a Northeast heating oil reserve to serve as a safety net in times of high price and short supply.
Senator Dodd supports increased funding of the Low Income Home Energy Assistance Program, which helps seniors and others on fixed incomes heat their homes. He has opposed efforts to destroy our nation's most sensitive natural areas for short-term gain. He has also backed efforts to curb and punish price gouging, improve fuel efficiency standards, and rebate windfall profits to American consumers.