As a policy-maker in our country, I would much rather we have that investment in our refineries.
Sentiment: NEGATIVE
So the only way we're going to improve fuel economy or appliance efficiency swiftly and to the maximum extent practicable is if the government requires it.
I have long felt that an investment by the Department of Energy of a million dollars a year for the next 30 years would pay a higher return than any other investment this country could ever make.
Refineries are very energy-intensive.
Cap and trade is not an easy one for refiners, so we tried to get some moderation in the bill, and we did, but not near as much I would like.
Anytime we make additional investment in a coal plant, we are really challenging whether that investment is economic.
Our criteria is that it's okay to invest in companies so long as they stop lobbying in Washington, stop exploring for new hydrocarbons, and sit down with every one else to plan to keep 80 percent of the reserves in the ground.
We need a balanced, long term energy policy to reduce our dependence on foreign oil and preserve the beauty of the land we love.
So we in Congress have a very clear choice. We can take largely symbolic action and sit back and fiddle while Americans burn more gasoline. Or we can pass concrete, effective legislation that will save consumers money while significantly reducing U.S. oil consumption.
What we are investing in, from a generation standpoint, are renewables and natural gas.
We as a nation have no choice but to conserve fuel to the best of our abilities or be prepared for harsh measures like steep price increase, if the need so arises.