| ENERGY AND GAS PRICES |
 |
 |
 |
|
As the founder and co-chair of the Congressional Northwest Energy Caucus, DeFazio is widely regarded by his colleagues in the U.S. House of Representatives as an expert in Northwest energy policy. DeFazio has a strong record of supporting reliable, cheap, public power; fighting speculation and other non-competitive activities in our gas and energy markets; encouraging smart growth in renewable energy sources and reducing our reliance on foreign fuels; and serving as a watch dog for Northwest electric ratepayers.
Click to jump to section Major Accomplishments | Gas Prices | Renewable and Alternative Energy | Media: Must Reads | Videos | Press Releases Energy Deregulation DeFazio has been one of the most outspoken critics of energy deregulation. He was one of 60 House members to vote against the passage of the 1992 Energy Policy Act that allowed the deregulation of the wholesale energy market and gave states the option to deregulate their retail energy markets. At the time, DeFazio warned deregulation would lead to less reliable and more costly power. He was right. Northwest ratepayers saw a 40-50 percent increase in electricity prices during the 2001 Western energy crisis. Since 1992, DeFazio has regularly introduced legislation to re-regulate the energy industry and to protect consumers and small businesses from volatility in the market. Low Electricity Rates in the Northwest DeFazio has repeatedly fought attempts to privatize the Bonneville Power Administration (BPA), a quasi-government agency that provides a reliable, cheap, and carbon free source of power in the Pacific Northwest. DeFazio also worked with Senator Hatfield to refinance BPA’s multi-billion dollar debt, saving ratepayers millions of dollars over the long-term and preventing the implementation of huge rate increases. Nuclear Power Watchdog Before serving in the U.S. House of Representatives, DeFazio played a significant role in halting the construction of four nuclear power plants that were backed by the Washington Public Power Supply System (WPPSS). As DeFazio predicted, cost overruns and mismanagement left three of the four planned nuclear facilities unfinished. The failed WPPSS nuclear projects led to the largest municipal bond default in U.S. history at the time. Northwest ratepayers continue to pay hundreds of millions of dollars each year in debt service for the unfinished projects. As a Member of Congress, DeFazio remains critical of taxpayer financed subsidies for the construction of nuclear power plants and has advocated for greater investment in energy efficiency and renewable sources of power.
DeFazio has been a leader on fighting for lower gasoline prices by seeking to end speculation in the oil markets, working to reduce the OPEC monopoly, and expanding domestic resources. He has introduced legislation to make speculative oil trading more expensive and thus prices at the pump cheaper; he has sponsored bills to increase domestic oil supply by speeding up the development of the National Petroleum Reserve- Alaska; he supported legislation to encourage energy companies to produce domestic energy on the thousands of leases they currently hold or forfeit those rights back to the American public; and DeFazio has recently called for federal investigations into declining California refinery production and rising West Coast gas prices that gouged Oregon drivers, families, and businesses for millions of dollars in 2012. Read DeFazio’s letters to the Oil and Gas Fraud Working Group, President Obama, and Attorney General Holder below. DeFazio Letter to the Oil and Gas Fraud Working Group DeFazio Letter to AG Holder Also don’t miss two explosive studies on West Coast gas prices. Portland-based McCullough Research refutes claims that high West Coast prices are result of normal market factor. Read the report here: http://www.mresearch.com/reports.html November 15, 2012 Portland-based McCullough Research analyzes rising gasoline process on West Coast in the presence of falling demand and increased production. Read the report here: http://www.mresearch.com/reports.html June 5, 2012
Renewable and Alternative Energy DeFazio supports a national renewable portfolio standard requiring that 20 percent of electricity come from renewable sources – like wind, solar, wave, geothermal, and biomass – by 2020. Such a mandate would create demand for renewable energy sources that would spur investments in renewable energy infrastructure and help bring down prices. DeFazio is working to end America’s “addiction to oil” as President Bush put it by expanding federal research into alternative fuels and providing incentives for American automakers to speed commercialization of more efficient and alternative fuel vehicles. He has also been a major player in securing Oregon’s position as a world leader in wave power research and technology development. Bonneville Power Administration (BPA) BPA operates a 31 dam hydroelectric system that offers residents and businesses of the Northwest a reliable, cheap, and carbon-free source of power. BPA sells power at cost, thus providing Northwest ratepayers with some of the lowest electricity bills in the United States. DeFazio founded and co-chairs the bipartisan Northwest Energy Caucus, which is devoted to preserving the benefits of the Columbia River Power System and the BPA. In the early 1990s, DeFazio played a key role in securing House support for a provision allowing BPA to contract directly with the Army Corps of Engineers and Bureau of Reclamation for generation improvements and maintenance activities. The BPA estimates this provision will save the region’s ratepayers about $400 million over the life of the improvements. DeFazio also chaired a congressional Task Force on BPA and authored a widely praised report, “BPA at a Crossroads.” The report and recommendations were completed in May 1994 and have had a significant influence in the regional debate over BPA’s future course. Recently, DeFazio garnered a $3.25 billion investment for BPA. These funds are in the form of increased borrowing authority that will allow BPA to build critical infrastructure to facilitate renewable and energy efficient projects. The increased borrowing authority created 1,000 construction jobs in Oregon and will eventually create tens of thousands of jobs in the renewable energy industry in the Pacific Northwest.
Portland-based McCullough Research analyzes rising gasoline process on West Coast in the presence of falling demand and increased production. Read the report here: http://www.mresearch.com/reports.html June 5, 2012 DeFazio wants probe of gas prices- 06.06.12 Democrat Herald DeFazio Wants to Lower Gas Prices- 05.27.11 Democrat Herald DeFazio and populist Democrats Offer Plan To Lower Gas Prices- 05.26.11 Oregonian House Leaders Make Closing Arguments on Energy Issues Before Holiday Weekend- 05.26.11 New York Times Speculation Explains More About Oil Prices Than Anything Else- 05.13.11 McClatchy Newspapers
|
