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Wednesday, April 22, 2009

Can Small Business Innovation Lead Us To A New Energy Future??

Everyone wants a new energy future for our nation. The question is how do we get there? Some are advocating tax increases. Congressman Randy Forbes (R-VA) is calling for innovation. IMHO opinion innovation is the way to go. Led of course by small businesses .... as usual.

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A New Energy Future: Innovation or Taxation?

Forbes Calls for Incentive-Based Approach Like New Manhattan Project

Washington, D.C., Apr 1 - Congressman J. Randy Forbes (VA-04) today made the following statement calling for a more innovative approach than the “cap-and-trade” energy proposal included in the President’s budget currently before Congress:

“Everyone wants a new energy future for our nation. The question is how do we get there? Some are suggesting that the way to do that is through a cap-and-trade system, a major component of the President’s budget proposal. Unfortunately, this system will result in tax increases for consumers, causing energy costs to skyrocket up to $3,100 per family per year at a time when families are already facing strained budgets. Furthermore, the proposal would undermine our competitiveness as a nation. I would ask Americans whether they trust taxation or innovation to lead us to energy independence?

“We should approach alternative energy development with a commonsense, incentive-based solution that encourages competition and ingenuity among Americans. The New Manhattan Project, which I have introduced, will put us on a direct path towards energy independence while helping create lasting economic security for our nation and its families. I hope the President and Congress will give this proposal the consideration it deserves.”

The nonpartisan Congressional Budget Office has testified before Congress that under a cap-and-trade program, additional costs to firms would ultimately be passed on to consumers in the form of higher prices.

The New Manhattan Project for Energy Independence has been hailed as one of the most innovative energy solutions before Congress. The project calls on the United States to reach 50% energy independence in 10 years and 100% in 20 years, and will award competitive prizes to the first individual or group who can reach any of seven established energy goals:

- Double CAFE standards to 70 MPG while keeping vehicles affordable
- Cut home and business energy usage in half
- Make solar power work at the same cost as coal
- Make the production of biofuels cost-competitive with gasoline
- Safely and cheaply store carbon emissions from coal-powered plants
- Safely store or neutralize nuclear waste
- Produce usable electricity from a nuclear fusion reaction

The New Manhattan Project was originally introduced by Forbes in the 110th Congress as H.R. 6260. For more information on the New Manhattan Project, click here.

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