Statement of Edward R. Osann, President Potomac Resources Inc. Regarding Tax Policy Recommendations in "Sensible Energy Policies for Our Growing Economy," by the Sustainable Energy Coalition
The report being released today contains a number of recommendations for adjustments to federal tax policy. These are primarily laid out on pages 46 through 56 of the report. Taken together, these initiatives would:
Encourage rapid development of clean renewable sources of energy;
Spur investment in new energy efficient technology; and
Washington, D.C. — Consumers and businesses throughout the nation are facing heating bills two or three times higher than those last winter. California is facing an electricity reliability crisis that could cripple the state economy. Power plants, transmission lines, and natural gas pipelines are stretched to their limit in many states. And U.S. oil imports surged to around $120 billion last year, nearly $440 of imported oil for every American. Is this the time to scale back national energy efficiency programs?