Whose Side Are You on? The American Consumer and the Taxpayer, or Big Oil?

Speaker Nancy Pelosi | Pelosi on Energy Bill:

Washington, D.C. – Speaker Nancy Pelosi and House Democratic leaders held a news conference today to discuss the comprehensive energy bill to be introduced this week. Below are her remarks:

“I apologize for keeping you waiting, especially in these cramped quarters. But I come from our Caucus meeting very energized by what our Members had to say, pun intended. As we have discussed this month, Democrats will continue efforts to take America in a New Direction.

For our economy and our energy policy, we are organized, we are unified, we’re focused, we’re disciplined, and we’re ready to go. Two of the issues that are at center stage are the energy policy legislation that we have put forth and a possible stimulus package. These are related, in fact, because they address the economic insecurity of America’s working families, and they also address the problems challenging Americans who are out of work.

Today more than 9 million Americans are out of work, the unemployment rate is a five-year high. We must take immediate action to strengthen our economy. We’ve been saying that for a while, the Administration has resisted, hopefully the statistics will speak eloquently to the White House that a stimulus package is needed. It will be a stimulus package to create jobs.
We will vote on a comprehensive energy policy – and what I told you about the stimulus package was not all inclusive, there are other items, I was giving you a sample of what could be in such a bill.
This week, the House will vote on comprehensive energy legislation that is a result of a reasonable compromise.

I am very proud of our Caucus and how we are coming together on this. It will put us on the path toward energy independence by expanding domestic supply. It will protect consumers and taxpayers with strong action to lower the price of the pump and end taxpayer giveaways to Big Oil. It will ensure a clean green future through energy efficiency and conservation, and it will commit America to renewable energy and help create millions of good paying green jobs...
This comprehensive energy legislation is the result of serious compromising among Democrats to bring down gas prices now and invest in a renewable future. Republicans must set aside their ‘drill only’ policy; even their own supporters have said we cannot drill ourselves out of this emergency situation.
It will come down to this when it comes to energy. Whose side are you on? The side of the American consumer and the taxpayer, or Big Oil?
If they want to drill offshore we say, ‘Okay, if you want to drill on the outer continental shelf, let’s have a discussion and a change of the relationship between our oil, which is owned by the American people, the desire of Big Oil for us to subsidize their drilling, and us not to, the American people not getting the benefit of the profits.’ So more drilling, no subsidies, and we want our royalties, in order to pay for investments in renewable energy resources, make a strong commitment to LIHEAP and the land and conservation fund, something like that.
And if you oppose that, what are you saying? ‘I’m for drilling and for subsidized Big Oil and I want all of the profits to go to Big Oil, and I don’t want to visit this relationship of getting the funds that we are owed from the royalties of holidays in the late 90s.’

It’s pretty exciting because we’re at a crucial place in our energy future and this decision will be an important one, and we want the American people to see the distinction between the Democrats and the Republicans on this. Do you want to drill now on the continental shelf? We want our royalties. No more subsidies for you. We want those subsidies and those royalties for LIHEAP, for renewable energy resources, for a better energy future for our country.”