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Energy
The rise in gas prices has been a stark reminder that Congress must take the necessary steps to address our nation’s energy needs. We must not only explore options for increased petroleum sources such as ANWR and offshore drilling, but we must think outside the box and devote significant resources to developing alternative and renewable fuels. There are varied factors contributing to the current rise in energy prices, and the potential solutions are equally as diverse. I strongly believe that we must move our nation toward a path of energy independence as quickly as possible.
Kentucky is uniquely positioned to play a key role in our nation’s energy transformation. By virtue of the Commonwealth’s strategic location and strong agricultural base, ethanol and biodiesel endeavors are already taking root. In addition, large deposits of tar sands and oil shale can be found in areas across the state. There are also unique technologies such as coal-to-liquid, which can utilize Kentucky’s coal supply to produce gasoline. Exciting technologies are available to harness Kentucky’s resources in an environmentally respectful and economically rewarding way. This is an exciting time for Kentucky and I look forward to helping ensure that we are a vital player in securing our nation’s energy future.
In the 108th Congress, I introduced legislation to provide incentives for the production of ethanol and biodiesel. My bill included a tax credit to build infrastructure at retail outlets to support E85 ethanol, consumer incentives to promote the purchase of the fuels, and a small producer tax credit that would allow start-up companies to enter the market. Many of these provisions were signed into law, the Energy Policy Act, the American Jobs Creation Act. I believe that ethanol and biodiesel are the essential to moving our nation toward energy independence and will continue to work with my colleagues in Congress to ensure they remain viable alternative fuel sources.
Congressman Lewis speaking at the opening for Owensboro Grain’s new biodiesel facility
I was also able to include a provision in the Energy Policy Act to allow organizations such as rural electric cooperatives to more easily finance alternative energy projects, including solar, biomass, landfill gasification, and wind. I am pleased to report that Congress recently added $400 million to the program and extended it for an additional year. Clean Renewable Energy Bonds are an efficient way to ensure that Kentuckians continue to benefit from low energy costs, all the while promoting production from renewable energy sources.
I worked with my colleagues, as well as the Southern States Energy Board, to develop H.R. 683. This legislation encourages production of coal-to-liquid fuels. My legislation seeks to allow further investment in alternative fuels projects through the extension and expansion of current tax credits. By extending the Alternative Liquid Fuels Excise Tax Credit, investments can be made that will spur the development of these facilities.
While Congress, the President, and state officials examine ways to deal with both the short and long term impacts of gasoline prices, there is no easy fix. But please be assured that energy is a top priority of mine and I will work with my colleagues here in Congress to evaluate any viable means of addressing the increased gasoline prices.
