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Klobuchar -- Energy opportunities big in Minnesota Tuesday, February 5, 2008
By Sen. Amy Klobuchar
Shortly after the start of the new year, I embarked on a Main Street Tour of Minnesota, traveling to dozens of local communities statewide to discuss the economic challenges and opportunities facing Minnesotans in 2008.
Energy is a topic that often came up in these discussions. It came up as a challenge, because of the ever-rising gas, heating and electricity prices hitting families in their pocketbooks and squeezing businesses on their bottom line.
But energy also came up as an opportunity.
For example, I visited southwestern Minnesota, home of hundreds of large-scale wind energy turbines that have made Minnesota the nation's third leading producer of wind power and helped fuel a rural economic renaissance.
I also visited western and northern Minnesota, observing the outlines of America's energy future in plans for cellulosic ethanol, solar and wind power, biomass energy from logging and other forward-looking energy projects.
Minnesota is already a leader in the new energy revolution that is just beginning to emerge. As this revolution advances, I want us to stay a leader.
As Congress reconvenes this year, I am introducing new federal legislation to help lead our nation forward on the path to a better, cleaner, more prosperous energy future with new opportunities for investment, innovation and job creation.
Called the "American Renewable Energy Act," this legislation is designed to create a more positive investment environment for the development of clean alternative energy resources and technology.
First, this legislation would extend for five years the existing federal production tax credit for alternative energy, including wind and solar. This would offer businesses more clarity and certainty as they make decisions about long-term capital investments. It would be paid for by rolling back several tax giveaways that the major oil companies have enjoyed for years.
The current production tax credit is set to expire at the end of this year. During the past decade, it has been allowed to expire three times, only to be revived shortly afterward. It is like a game of red light, green light."
This stop-start approach is no way to run a business, nor a government policy that is supposed to promote long-term investment.
Extending the tax credit for five years would provide a stronger, more stable environment for new investments.
Second, as an additional incentive, my legislation would establish an aggressive, nationwide renewable electricity standard requiring all utilities to generate or purchase 25 percent of their electricity from renewable sources by the year 2025.
This "25-by-25" standard might sound familiar to Minnesotans. That's because it is essentially what was passed last year by the Minnesota Legislature and signed into law by the governor.
There is a famous saying that the states are "laboratories of democracy" where new ideas emerge and innovative proposals are tested. But this must not serve as an excuse for inaction by the federal government.
Good ideas and successful innovations should emerge from the states and serve as a model for national action. As states like Minnesota seize the opportunities offered by renewable energy, it is time their courage was matched in Washington.
If our leaders in Washington can embrace new energy priorities, with polices like the American Renewable Energy Act, the potential benefits are enormous for both Minnesota and our nation.
In terms of its ability to transform our economy, clean energy technology promises to be to the first half of the 21st century what computers were in the latter half of the 20th century.
With Minnesota helping to lead the way, we have the opportunity to create new technologies, new industries, new businesses and new jobs while, at the same time, promoting our energy independence, strengthening our national security and protecting our global environment. |
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