At the 11th Annual Congressional Renewable Energy and Energy Efficiency Expo and Forum, several representatives delivered remarks on the potential of private sector businesses in the support of renewable energy. Private companies lobbying for federal assistance presented such products as private home and community wind generators. (more…)
Senate Republicans held a joint press conference with Americans from the trucking industry this afternoon to discuss increased energy costs and its effect on commodity prices. Barbara Windsor, President and CEO of HAHN Transportation said that her trucking company spends $1,400 per vehicle to fill it with Diesel gasoline, and currently spends 58 percent more on fuel than it did a year ago.
Tony Sifford, a professional truck driver said that despite the fuel conservation efforts that he employs, such as slowing down, keeping a constant speed and maintaining a tuned-up vehicle, he still pays over $1,100 more than he did a year ago to drive from Hillsville, Virginia to Dallas, Texas three times per week. Sifford called upon the Democrats to stop playing games and cross party lines to bring an energy solution to America.
Sen. Wayne Allard (R-CO) said that Americans in the West need a solution, as they tend to drive further distances than others in the nation. As such, he said that he favors searching for oil everywhere we possibly can and not remove options from the table, especially because no renewable energy source exists for truck drivers.
Eight Senate Republicans gathered this afternoon to hold a forum on “Protecting American Justice: Ensuring Confirmation of Qualified Judicial Nominees.” Sen. Arlen Specter (R-Pa.) led the forum and said that it is not fair to the American people for Congress to block certain judicial nominees in an effort to obtain partisan revenge. Sen. Elizabeth Dole (R-N.C.) agreed with Specter and said that U.S. courts are the front lines of contact between the American citizens and Congress. (more…)
Sen. Wayne Allard (R-Colo.) says that the recent turmoil in the credit markets and the demise of Bear Stearns has caused many to scrutinize the role of credit derivatives and the banks exposure to the “potentially risky” financial statements. Allard also says that the OTC credit derivatives market is still relatively new and trades on a market that lacks substantial infrastructure and transparency. (1:24)
The Senate Banking, Housing and Urban Affairs Committee held a hearing on “Reducing Risks and Improving Oversight in the Over-The-Counter (OTC) Credit Derivatives Market.” Chairman Jack Reed (D-R.I.) and Ranking Member Wayne Allard (R-Colo.) oversaw the hearing. Both senators agreed that the OTC credit derivatives market poses many risks to different sectors of the U.S. economy, including the financial system. Reed said that regulators have been coordinating efforts since 2002 to reduce these risks, but have not made enough progress and have become “too complacent” in their efforts. (more…)
