A bill that makes major investments to develop new technologies that address high gas prices and the energy crisis.The bill is intended to help America invest and invent its way out of high gas prices and the energy crisis. The Fiscal year 2009 Energy and Water Development Appropriations Act proposes more than $33 billion in energy and water development which is a $2 billion increase from 2008. Congressman Visclosky is the chairman of the Energy and Water Development Appropriations Subcommittee.
In order to address high gas prices, the bill provides:$305 million for research to pursue technology breakthroughs that will reduce petroleum use by all automobiles;$2.52 billion for Energy Efficiency and Renewable Energy programs like renewable energy and conservation research and development activities,energy assistance programs,and Weatherization Assistance funding;$853.6 million for Fossil Energy Research and Development to pursue low cost carbon capture;$250 million for Bio-mass and Biorefinery Systems Research and Development to develop technologies that will enable future biorefineries to convert cellulosic bio-mass to fuels such as ethanol;$200 million for demonstrating the GEN IV reactor to maintain the supply of emissions free nuclear energy;$25million for Renewable Fuel Infrastructure Grants to retail and Wholsale motor fuel dealers for installation and storage of renewable fuel blends;$4.86 billion for the Department of Energy's research that will be critical in addressing energy needs.
Other priorites will be confronting Nuclear threats by boosting nuclear nonproliferation environmental cleanup and improving water infrastructure.
I strongly believe that the solutions to our current troubles lie in Americans ingenuity. Now what do you think about this LA?
I am outraged by the price of a gallon of gas.The price at the pump keeps going up and families are being forced to spend large amounts of their budgets on gas.Just buying enough gas to get to work is cost prohibitive for the hard working people of our nation.Some are faced with the difficult decision of whether to fill up their gas tank or buy food for their family.
In the greatest Country on earth, this should never be the choice.The big oil companies announced their first quarter profits for 2008. The numbers were even more shocking than what we might imagine.BP's profitsd of $7.6 billion dollars were 64 percent higher than the same period last year. Shell's profit of over $9 billion were up 25 percent from a year ago. And lastly Exxon/Mobil's take of $10.9 billion was the second biggest U.S.quarterly profit ever.
These multinational Oil Giants are doing everything they can to maximize profit with little or no concern for the financial hardship it causes honest,hard working people. Companies should make a profit, but these numbers are excessive,to consumers,and destructive to the national economy.
Efforts are underway to do something toward the price gouging oil companies.Last year congress passed, and the President signed, the Energy Independence and Security Act of 2007.That law grants the Federal Trade Commission new authority over the manipulation of wholesale crude oil,gasoline,and petroleum markets. The FTC announced that it has begun its rulemaking process that will establish how it will exercise its authority to go after price fixing in the oil industry.Has the FTC taken a step in the right direction?
Will it require new leadership to protect consumers from price gouging oil companies? Bringing down gas prices will not happen overnight, but it can be done I believe.What are your thoughts about this matter Oil? The national average for the price of gas is $3.94 per qallion as of this writing May 27,2008.
