Issue Position: Rising Oil and Gas Prices

Issue Position

Issue Position: Rising Oil and Gas Prices

High energy costs are the root of many of our problems as Americans. From groceries to gasoline and postage stamps, prices are rising everywhere as a result of high oil prices. While we develop new technologies that will allow us to become energy independent, we must all work together to find solutions to keep gas prices down in the short-term. This means finding environmentally responsible ventures to drill domestically.
Domestic Drilling

In Washington, I will align myself with a bipartisan group of lawmakers to bring oil prices down while we continue the search for alternative fuels. I will support removing the 27-year-old federal moratorium on exploratory drilling off the Atlantic and Pacific coasts. In addition to this, we can fix our broken and unused refineries in places like Louisiana and Texas. This will lower prices while we invest in research and development (R&D) into solar, wind, and nuclear power, as well as biofuels.

Business Practices

For too long, speculators and oil companies have profited from our hardship. In Congress, I will crack down on speculators who continue to inflate oil prices. While we're penalizing those who are doing wrong, we need to reward those who are working for the same goal we are. I will work toward creating tax incentives for businesses that are involved in alternative fuel R&D. Additional tax credits will be extended to automakers that boost fuel efficiency in their vehicles.

Investment in Our Future

A serious and sustained investment is needed for a solution to our problem with energy dependence. We need to stop talking about this and take action that produces real results. It is going to take time, but, if we stick with it, it's something that will strengthen every part of American life. Making solar, wind, and nuclear power more accessible to our homes and businesses is the first step in a long-term solution. We must also research and develop biofuels to make our vehicles more efficient on the road. Fifty years ago, we were challenged in space when Sputnik was launched, and we met that challenge. With the right investment and the political will to do so, we will rise to meet this challenge too.

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