On Feb. 20, Grassley wrote to the National Energy Policy Group to stress the importance of diversifying our domestic energy production, including advancing renewable sources like wind, biomass, soy diesel and ethanol. The plan includes $10 billion of tax incentives for renewable and alternative sources of energy as well as for conservation. These measures will pass through the Senate Finance Committee, which Grassley chairs.
Following is the comment from Grassley:
"President Bush's plan is a comprehensive approach to solving our country's energy problems by offering a way to provide consumers with affordable, reliable energy while still protecting the environment. The plan strikes a balance between the necessary components for a sound energy policy. It calls for increased production, increased conservation and increased use alternative sources of energy, such as ethanol, wind and biomass.
"I particularly like the president's recommendation to fund ethanol research and continue federal ethanol incentives. By expanding our use of alternative and renewable energy, we increase our domestic energy and lessen our dependence on foreign oil.
"This plan offers a sign of relief for a county that has gone for eight years without a national energy policy and is sorely needed in this time of sky-rocketing gas prices and high utility bills. We've gone too long without taking the steps we need to keep our energy supply in step with the current demand. It's a welcome change from policies of the past.
"Finally, put to rest today are the unfair attacks against the Bush plan. Isn't it ironic that while the democrat plan proposes tax subsidies for big oil, President Bush's plan offers no tax incentives for oil companies. His tax incentives are geared entirely for renewable and alternative fuels."