|00:00:00||DEMOCRATS CONTROLLED THE CONGRESS IN 2009, WE PASSED A BILL OUT HERE ON THE HOUSE FLOOR THAT CREATED AN ADVANCED ENERGY TECHNOLOGY BANK THAT INCLUDED $75 BILLION THAT THE NUCLEAR INDUSTRY COULD HAVE QUALIFIED.|
|00:00:17||$60 BILLION FOR THE COAL INDUSTRY, FOR CLEAN COAL TECHNOLOGY.|
|00:00:23||ALTHOUGH WE ALSO BUILT IN INCENTIVES FOR WIND AND FOR SOLAR AND FOR ENERGY EFFICIENCY, WE DID IT ALL.|
|00:00:30||WE DID IT ALL.|
|00:00:32||WE GAVE EVERYONE A RUNNING HEAD START.|
|00:00:34||WE DIDN'T SAY NOTHING FOR NUCLEAR.|
|00:00:38||WHAT HAVE THE REPUBLICANS SENT OVER THE PAST YEAR THAT PASSED ON THE HOUSE FLOOR A BILL THAT ZEROED OUT THE LOAN GUARANTEES FOR WIND AND SOLAR BUT THEY LEFT IN THE LOAN GUARANTEES FOR THE NUCLEAR INDUSTRY.|
|00:00:49||THAT'S NOT AN ALL-OF-THE-ABOVE STRATEGY, AND YOU ALL VOTED FOR IT UNANIMOUSLY.|
|00:00:56||HERE'S WHERE WE ARE.|
|00:00:57||THIS OIL ABOVE ALL STRATEGY THAT YOU HAVE, NOT ALL OF THE ABOVE, THIS IS BASICALLY AT THE HEART OF WHAT THIS WHOLE DEBATE IS ALL ABOUT.|
|00:01:07||LAST YEAR THE OIL INDUSTRY IN THE UNITED STATES MADE $137 BILLION.|
|00:01:15||THIS YEAR THEY'RE GOING TO BLAST RIGHT PAST THAT $137 BILLION.|
|00:01:22||EVERY PERSON WATCHING THIS DEBATE IS LOOKING AT THE PUMP RIGHT NOW AT $3.|
|00:01:28||50, $4, $4.50 THAT THEY'RE PAYING AND IT'S GOING STRAIGHT UP.|
|00:01:31||THEY'RE GOING TO BE REPORTING PROFITS OF UPWARDS OF $200 BILLION.|
|00:01:36||THE REPUBLICANS CONTINUE TO KEEP IN THE $4 BILLION A YEAR FOR TAX BREAKS FOR THE OIL INDUSTRY.|
|00:01:46||OVER 10 YEARS THAT'S $40 BILLION THAT WOULD PAY FOR THE TRANSPORTATION BILL.|
|00:01:50||SUBSIDIZING THE OIL INDUSTRY IN 2012 TO DRILL FOR OIL IS LIKE SUBSIDIZING FISH TO SWIM OR BIRDS TO FLY.|
|00:01:55||YOU DON'T HAVE TO DO IT.|
|00:01:58||THE CONSUMER IS ALREADY DOING IT AT THE PUMP.|
|00:02:01||THEY'RE BEING TIPPED UPSIDE DOWN.|
|00:02:03||AND SO THERE'S AN EASY FUNDING MECHANISM HERE.|
|00:02:07||TAKE AWAY THE OIL COMPANY TAX BREAKS.|
|00:02:11||THAT'S THE -- I WILL YIELD MYSELF AN ADDITIONAL 30 SECONDS.|
Mr. MARKEY. Mr. Chairman, I yield myself 2 minutes.
When the Democrats controlled the Congress in 2009, we passed a bill out here on the House floor that created an advanced energy technology bank that included $75 billion that the nuclear industry could have qualified for, $60 billion for the coal industry for clean coal technology. Although we also built in incentives for wind and for solar and for energy efficiency, we did it all. We gave everyone a running head start. We didn't say ``nothing'' to nuclear. No.
What have the Republicans done over the last year? They passed out here on the floor a bill that zeroed out the money for loan guarantees for wind and solar, but they left in the loan guarantees for the nuclear industry. That's not an all-of-the-above strategy, and you all voted for it unanimously.
No. Here's where we are. This oil-above-all strategy that you have, not all-of-the-above, this is basically at the heart of what this whole debate is all about.
Last year, the oil industry in the United States made $137 billion. This year, they're going to blast right past that $137 billion. Every person watching this debate is looking at the pump right now at $3.50, $4, $4.50 that they're paying, and it's going straight up.
They're going to be reporting profits of upwards of $200 billion. The Republicans continue to keep in the $4 billion-a-year for tax breaks for the oil industry. Over 10 years, that's $40 billion that would pay for the transportation bill.
Subsidizing the oil industry in 2012 to drill for oil is like subsidizing fish to swim or birds to fly; you don't have to do it. The consumer is already doing it at the pump. They're being tipped upside down.
So, there's an easy funding mechanism here. It's just taking away the oil company tax breaks.
The CHAIR. The time of the gentleman has expired.