Mr. Speaker, we stand today on the verge of a new energy horizon, one that promises a more secure America, an America with thousands upon thousands of new manufacturing and high- tech jobs, an America with lower and more stable energy…
Mr. Speaker, we stand today on the verge of a new energy horizon, one that promises a more secure America, an America with thousands upon thousands of new manufacturing and high- tech jobs, an America with lower and more stable energy prices, an America at long last responding to the threats of global warming. But this America will only be realized by ushering the legislation before us into law.
This bill reflects a bold vision, a vision to respond to many of the gravest threats facing our Nation, a vision befitting the United States Congress, the world's greatest deliberative body.
There is much to laud in this legislation. This bill would increase American energy independence, strengthen national security, lower energy costs, grow our economy, and create new jobs, reduce global warming. Now, the focus on the renewable electricity standard provision: a Federal RES is long overdue, and I thank you for your commitment to this provision. Thank you to my Democratic and Republican colleagues who joined me in offering this amendment in August and to the 220 Members who supported its passage.
In closing, I would like to remind my colleagues that we are not here to defend the status quo; we are here to lead. We are here to ensure America's standing as a model of ingenuity, creativity, cutting-edge thinking, and revolutionary ideas. Failing to usher this legislation into law I fear will threaten that standing.
The renewables revolution which we will be ushering in through this bill and the RES provision is good for business, it is good for the environment, and it is good for the security of our Nation, and I urge my colleagues to support it.
Mr. Speaker, today, we stand on the verge of a new energy horizon. One that promises a more secure America. An America with thousands upon thousands of new manufacturing and high-tech jobs. An America with lower and more stable energy prices. An America at long last responding to the threats of global warming.
But this America will only be realized by ushering the legislation before us today into law.
This legislation reflects a bold vision. A vision on the scope needed to respond to many of the gravest threats facing our Nation. A vision befitting the United States Congress, the world's greatest deliberative body.
There is much to laud in this legislation. The first increase in CAFE requirements in over 30 years, which will save American families an estimated $700 to $1,000 per year at the pump. An historic commitment to American biofuels that will fuel our cars and trucks.
And, of great importance to me and my constituents, the inclusion of a renewable electricity standard. An RES, as it is known, requires electric utilities to generate 15 percent of their electricity through renewable resources and energy efficiency measures.
I would like to thank the Speaker in particular for her commitment to this provision, the several colleagues who joined me in offering this as an amendment in August, and the 220 Members who supported its passage at that time.
Opponents of an RES claim that it would increase electricity costs for consumers. Study after study has shown the contrary. It has consistently been found that a strong Federal RES could actually save American consumers money. A recent study conducted by the Union of Concerned Scientists found an RES would save consumers $13 billion to $18.1 billion on electricity and natural gas bills cumulatively by 2020. In March, the energy consulting firm Wood Mackenzie projected that consumers would save more than $100 billion with an RES in place. They also found that with more diverse energy sources and a decrease in fossil fuel consumption, reduced demand for natural gas would lower prices by as much as 20 percent by 2026.
And while consumers are saving money, a Federal RES also helps make our Nation safer and less dependent on foreign sources of energy. Almost all new electricity generation in the last decade has been fueled by natural gas. The biggest sources for future natural gas supplies are Iran, Russia, and Qatar, which together hold 58 percent of the world's natural gas reserves. Increasing the production of domestic energy from biomass, solar, wind, and other renewable sources helps us reduce our dependence on foreign countries, thereby securing America's energy independence.
The requirements under this RES start modestly, and increase gradually. It includes many provisions both to help utilities meet the requirements, and to reward those utilities that meet the requirements ahead of schedule. It allows States, many of whom have moved far ahead on this issue, to have standards that are more rigorous. It has support from the business community, the labor community, the faith community, and the environmental community.
It is an idea, Madame Speaker--like all included in this legislation--whose time is long overdue.
My colleagues, we are not here to defend the status quo. We are here to lead. We are here to make the difficult decisions necessary to ensure America's continued standing as a model of ingenuity, creativity, cutting edge thinking, and revolutionary ideas. Failing to usher this legislation into law will, I fear, threaten that standing.
Passing this legislation today should not be considered one of the difficult decisions we have to make. And to those for whom it is a difficult decision, I urge you to join me and the millions of Americans across the country who recognize that the renewables revolution is good for business, is good for the environment, and is good for the security of our Nation.