Comprehensive American Energy Security and Consumer Protection Act

Floor Speech

COMPREHENSIVE AMERICAN ENERGY SECURITY AND CONSUMER PROTECTION ACT -- (Extensions of Remarks - September 25, 2008)

SPEECH OF
HON. MARIO DIAZ-BALART
OF FLORIDA
IN THE HOUSE OF REPRESENTATIVES
TUESDAY, SEPTEMBER 16, 2008

* Mr. MARIO DIAZ-BALART of Florida. Mr. Speaker, the Comprehensive American Energy Security and Consumer Protection Act increases regulation and continues to limit production of abundant American energy resources. This legislation follows the Majority's typical path of runaway spending, higher taxes, and more red tape for domestic energy production:

* This legislation deepens our dependence on foreign oil by permanently banning production of 97 percent of the 10.5 billion barrels off the coast of California, and over 85 percent of American's energy resources.

* It contains no revenue sharing provision, thus giving states a major disincentive to agree to off-shore drilling. It also prohibits drilling in areas where experts say most of the energy resources is known to be found.

* H.R. 6899 imposes a massive tax increase of $17.7 billion over 10 years on companies engaged in domestic energy production. At this time of economic uncertainty, increasing taxes does nothing but threaten millions of American jobs. By raising costs on domestic production, consumers can expect the higher taxes to be passed down to them. This measure would limit efforts to expand American energy supplies, which ensures further dependence on Hugo Chavez and unstable Middle Eastern nations for their sources of oil.

* I cannot support a bill that says no to clean coal, no to nuclear and no to new refineries.

* Energy is the critical issue of our time, and this Democratic Congress refuses to let the House engage in and debate a real, meaningful energy bill that actually produces energy. We need a vigorous energy policy that relies on American resources for American energy while growing our economy and creating countless new jobs.

* The American people expect and deserve better. This country needs a serious, aggressive, all-of-the-above energy plan that will lead us to energy independence, not a hoax of an energy bill.

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