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From: "Crapo News Release (Crapo)" newsclips at crapo.senate.gov
Date: Wed, 20 Jun 2007 13:51:14 -0700
To: 
Subject: [Spam 6.40] ENVISIONING AMERICA'S ENERGY FUTURE

FOR RELEASE 	              CONTACT:           Susan Wheeler (202)
224-5150
Week of June 24, 2007	                  Laura Thurston Goodroe (202)
224-7500

			ENVISIONING AMERICA'S ENERGY FUTURE
		Guest opinion submitted by Idaho Senator Mike Crapo

Energy is on our minds-with gasoline prices still high, "pain at the
pump" is something we all relate to.  Understandably, "it's
complicated," is a frustrating response to questions about high fuel
prices.  Easy answers provide easy targets for our frustration, but
simplify issues to the detriment of sound policy development.  The long
answer-where the truth is found-is not the stuff of soundbites.  

Energy production and consumption must be addressed on the supply and
demand sides of the equation, with careful consideration of economic,
national security and environmental implications.  Addressing demand
means taking responsible, incremental steps that encourage energy
conservation; addressing supply means encouraging innovation through tax
incentives for renewable energy technology and development, not imposing
some $28 billion in taxes on the oil and gas industry.  It doesn't take
a rocket scientist to know that those costs will show up at the gas
pump.  Approaching supply and demand responsibly allows our economy to
adjust to what amounts to an historic energy transformation-certainly
not a one- or two-year endeavor.  Diversifying our energy portfolio will
take years.  If done correctly, solid markets for new energy will be
created, and we will finally extract ourselves from the death grip of
foreign oil.  Most importantly, consumers won't bear the cost burdens of
taxes that discourage oil and gas production in the intervening years.  

The Senate's comprehensive energy legislation, in theory, aims to
decrease dependence on foreign energy supplies and increase
conservation.  In practice, it implements energy conservation
incentives, but fails to move us confidently toward business and
market-friendly domestic energy development and conservation.  

*  The Renewable Portfolio Standards (RPS) would introduce a
counterproductive federal standard into a growing and effective
state-by-state effort to better utilize renewable fuels.  I support the
Clean Energy Portfolio Standard, which provides for a broader range of
technologies to meet a responsible, conservation-sensitive federal
standard.  The federal government shouldn't impose a "one-size-fits-all"
answer on states to fulfilling a renewable energy requirement for
electricity, which is what the majority proposal does.  

*  Federal fuel efficiency standards must be carefully evaluated on
merits and long-term market consequences.  In the long run, our
environment and pocketbooks can benefit from fuel-efficient automobiles.
Still, statistics show that, even at current gas prices, people are
purchasing trucks and SUVs at a steady rate.  Vehicle purchase choices
include more factors than just fuel economy.  Introducing unnecessary
federal controls into the industry in the guise of fuel efficiency
standards affects jobs and even passenger safety.  

*  Energy tax legislation that I voted against sought to assess higher
taxes on the different stages of gasoline production, from drilling to
importing to refining.  Taxing a commodity is a disincentive and drives
prices up.  In a time of energy transformation, energy tax legislation,
in the form of tax incentives rather than new taxes, provides a strong
compliment to regulatory efforts.  In fact, tax incentives may prove
more effective than traditional federal regulatory command and control
when it comes to long-term solutions to our energy needs.

Thankfully, a number of tax incentives I have strongly supported are
part of the legislation.  These include tax credits for wind, solar and
geothermal energy, increased efficiency of commercial and residential
buildings, improved transmission facilities and tax credits for
alternative vehicles and fuels, particularly cellulosic ethanol.   

Key to any comprehensive, honest energy policy debate is recognizing
that answers aren't easy.  Effective energy legislation will include:
support for true energy diversity-clean coal, nuclear, wind, biomass,
geothermal and solar; incentives for increased conservation endeavors by
individuals, the federal government and private industry; incentives for
new oil refining facilities; and increased petroleum production.  

WORD COUNT:  600

To link directly to this news release, please go to:
http://crapo.senate.gov/media/newsreleases/release_full.cfm?id=277370&&

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