Issue Position: Achieving Energy Independence

Issue Position

Issue Position: Achieving Energy Independence

With petroleum at record high prices, it has never been more imperative to decrease our dependence on foreign sources of oil, increase energy efficiency, and lower energy prices. In the short term, Paul has introduced legislation to tax the windfall profits of oil companies so they have an incentive to keep prices as low as possible for consumers. He joined a majority of his colleagues in stopping the President from purchasing oil for the Strategic Petroleum Reserve, thereby increasing supply and reducing the cost of oil.

Until alternatives to fossil fuels are cost-effective and readily available, Paul believes that the United States must fully utilize its existing supply of oil, natural gas, and coal. He also supports the careful expansion of nuclear energy.

Paul supported legislation that passed the House in December to authorize billions of dollars for research into sustainable energy sources such as wind energy, biofuels, and solar energy.

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