McDermott Comments on Current Energy Bill
For Immediate Release - November 18, 2003

In the midst of a record federal budget deficit during a time of war, the House today is considering a $23.5 billion tax cut, the overwhelming bulk of which will be enjoyed by oil, gas, and other traditional energy companies.

Sometimes tax incentives can be a valuable tool to help spur innovation in the energy sector. This bill, however, merely provides expensive incentives for the status quo that has only increased our reliance on oil that comes from Middle East monarchies that control the price of our oil through a global cartel.

Even though Republicans argue about the merits of free market competition, the Republican-controlled House is about to pass a 1000 page measure created behind closed doors with energy industry executives that would provide billions of dollars in federal subsidies to oil, coal, and nuclear energy companies. These benefits are provided at a time when the price of oil per barrel is over $30, a price that yields generous profits for oil companies.

Never before has our nation cut taxes in a time of war. We didn't cut taxes during the Civil War, either of the World Wars, Korea or Vietnam. Despite our deteriorating fiscal situation, the burgeoning budget deficit, and escalated costs and casualties in Iraq, the Bush Administration and the Bush Congress is intent on sacking our children and grandchildren with an additional $23.5 billion in government debt.

In addition to my budget concerns, this bill erodes laws that protect our environment. The quality of the air that we breathe and the water we drink will be worse tomorrow than it is today, if the Congress adopts this Republican-authored bill.

This bill would roll back portions of the Clean Air Act to allow certain cities to ignore air quality standards.

It would exempt construction at oil and gas company sites from rules on wastewater runoff designed to protect our lakes, rivers, and streams.

It provides a waiver of liability for producers of MTBE, a gasoline additive that has contaminated the drinking water of countless American communities. This waiver, which is sought by Republican Majority Leader, Tom Delay, would shift the cost of MTBE cleanup from its producers to its taxpayers.

Mr. Speaker, I can create a list as long as my arm detailing the poor policy choices embodied in this energy measure. I urge my colleagues to vote against it.