Walz Tours Home Depot, Discusses National Energy Policy

"U.S. House"

08/22/2008

Walz calls on southern Minnesotans to help pass bi-partisan energy plan


(Mankato, MN) – Yesterday, Congressman Walz visited Home Depot, where he met with employees and consumers to discuss energy efficient products designed for homes and small businesses. Walz also talked about the comprehensive energy bill he and the Bipartisan House Energy Working Group introduced in July.

"Consumer habits show that Americans are ready for a change in our country's energy policy," said Walz. "Places like Home Depot and the energy efficient product lines they carry allow people to use their buying power to purchase items that cut energy consumption and save money on their heating bills. Whether consumers are adding extra insulation to their home to keep heat in, new dishwashers that use less power and water, or replacing windows that leak, every little bit helps."

Walz continued, "People across the country are doing what they can to help address the energy crisis our nation is facing. We need leadership in Congress and from the President to pass a national energy policy that will address the shorter, mid and long term needs of our country. This legislation will expand drilling by using royalties from oil companies to dramatically increase research into renewable sources of energy, which will speed up our transition to energy independence."

Earlier this summer, Walz joined a bipartisan energy working group to address the short-, medium- and long-term energy challenges facing our country. A few weeks ago, the 20 member group introduced the bipartisan National Conservation, Environment, and Energy Independence Act, which currently has 119 cosponsors in the U.S. House. This legislation will provide immediate relief at the pump for consumers by releasing oil from the Strategic Petroleum Reserve, expand drilling and increase domestic oil production, and use the royalties from expanded oil production to provide a reliable and significant source of new funding for renewable energy research and energy conservation. This new funding will allow America to speed up the development of next-generation renewable fuels.

It is estimated that there will be $2.6 trillion in royalties generated from the leases sold in the Outer Continental Shelf, with more than $1 trillion of that dedicated to conservation and renewable energy research and development technologies. Of that, $390 billion is set aside for the creation of a Renewable Energy Reserve, which will be used to fund efforts to encourage the use of cleaner domestic energy resources and alternative fuels, promote the use of energy-efficient products, and increase research, development and deployment of clean renewable energy and efficiency technologies.