HR 5351 Energy Tax Changes

Gasoline is now over $3 a gallon this early in the year. We are looking at $4 a gallon gasoline prices by the end of the summer. Inflation is on the rise because the costs of transporting goods to market are increasing. There is every increasing talk about recession. Everyday voters are making hard decisions when it comes to how they spend their hard earned paychecks. Yet, the big five oil companies are making record profits. The top five largest oil companies in the US today are ExxonMobil with fourth quarters profits of $11.66 billion, Royal Dutch Shell with fourth quarters profits of $6.7 billion, BP having a harder year only made fourth quarters profits of $4.50 billion dollars, Chevron with fourth quarter profits of $4.9 billion and ConocoPhilips with fourth quarter profits of $4.37 billion. These companies have no reason to spend money in developing renewable energy because it would cut into their record high profits. They use high priced lobbyists to convince Congressional Representatives like Congresswoman Heather Wilson and Congressman Steve Pearce to vote against any bill that would give voters a choose when it comes to the type of energy they can use to run their vehicles or heat their homes. Yet, there is one Congressman here in New Mexico that is fighting to give the voters of New Mexico a voice in Washington. A Congressman that does not let the high priced lobbyist buy his hart and soul when it comes to protecting the voting public in New Mexico, Congressman Tom Udall is that man. Last week he was the only New Mexico Congressional Representative to vote for house bill 5351.

House bill 5351 would raise $13.6 billion over ten years that could be used to fund tax breaks that would spur development of renewable fuels and promote energy efficiencies. The bill would raise this money by rescinding tax breaks given to these big five oil companies in 2004. The bill could also raise another $4.1 billion for renewable programs by limiting foreign tax credits claimed by U.S. energy firms. This bill could encourage the development of energy resources from sun, wind, tides, landfills, hydroelectric and geothermal. These are all clean sources of renewable energy that could help lower the cost of fuels, promote the development of US jobs, and also help our environment at the same time. The bill would also be used to create incentives to promote farm-generated fuels such as biodiesel, which is made from vegetable oils, and biomass which is derived from biological material such as switchgrass and hemp.

The questions New Mexicans need to be asking their congressional representatives are why they voted against this bill and what are they getting out of it to hand their votes over to big oil companies. Why are they voting against voter interest in New Mexico? The voting public also needs to be asking their senate representatives to support this bill now that it has passed the house and has been sent to the senate. I am sure that Senator Jeff Bingaman will be supporting this bill but I am also sure that Senator Pete Domenici will be trying to kill this bill because of those same high priced lobbyists. Voters need to stand up and voice their desirers to promote clean inexpensive energy. We need to support the representatives that protect our interest in Washington. When they support our interest we need to give them our approval and when they vote with those oil companies that are making record profits at our expense we need to let them know exactly how unhappy we are with their vote. We are sick to death of the high cost of fuel for our vehicles and the high cost of fuel to heat and cool our homes. Three of our representatives are so busy siding with the oil companies that they refuse to see the harm it is causing the voting public from both parties. How often do we have to take a back seat to high priced oil company lobbyists when it comes to these basic issues? It does not matter which party you are with if a representative is representing you then contact them and express you views on this vote. This is an issue that crosses party lines for all New Mexicans.

Contact information:

Senate:

Senator Jeff Bingaman
senator_bingaman@bingaman.senate.gov

Senator Pete Domenici
http://domenici.senate.gov/contact/contactform.cfm

US House:

Congressman Tom Udall
http://www.tomudall.house.gov/index.php?option=com_content&task=view&id=223

Congressman Steve Pearce
http://pearce.house.gov/contact/issue_subscribe.htm

Congresswoman Heather Wilson
http://wilson.house.gov/Contact.aspx