Teague: I'm Not Running to do Favors for Big Oil

Statement

Teague: I'm Not Running to do Favors for Big Oil

I am running for Congress to bring New Mexico values to Washington and to deliver on the things that matter to the working families of New Mexico. I am not running for Congress, as Jim Kadlecek suggested in a recent column, to do favors for any industry.

When I was 17 years old I went to work in the oil fields for a $1.50 an hour. Like most people here in New Mexico I have always believed that if you work hard and play by the rules, you should get ahead and be able provide for your family. These values helped me get ahead and build a business that employs over 250 people. These are the values I will take to Washington.

I am as angry as anyone about the high cost of gas and am often frustrated by the behavior of big oil companies. I do not believe the oil and gas industry should receive special treatment. I do believe our tax policies encourage innovation and job creation, not stifle them. That's why I favor tax and other incentives to encourage investment in new forms of energy.

In 2007, Congress took a major step forward toward energy independence and reducing harmful carbon emissions, but was eventually stopped from accomplishing two critical pieces - investing in alterative energy and requiring utilities to produce renewable energy. Both of these pieces will create new jobs in New Mexico and help New Mexico become a net exporter of clean electricity generated from solar, wind and biomass.

The Senate was blocked from passing a package of tax incentives that extend and expand tax credits for investments in clean power and fuels, for homeowners, companies, and utilities. These incentives will drive construction of new alternatives energy projects, here in New Mexico and elsewhere, and boost New Mexico businesses like Advent Solar and Schott Glass that produce materials and technology crucial to the emerging alternative-energy industry.

The Senate was also blocked from passing a requirement that utilities across the country get 15 percent of their electricity from renewable sources and efficiency. This phased-in requirement would also drive the construction of new wind farms, solar plants and other facilities, and will drive investment in transmission lines to take this power from New Mexico to other states that don't have the unlimited sources of wind and sun we enjoy.

In Congress I will focus on the future and on what is best for New Mexico families. We have a chance to create jobs in renewable energy in this district and reduce our demand for oil and gas by investing in alternative energy. That will be my priority when I am elected.

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