Senate Proceeding 05-13-09 on May 13th, 2009 :: 0:36:20 to 0:45:35
Total video length: 4 hours 42 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Views:83 Duration: 0:09:15 Discussion

Previous speech:

Next speech:

0:36:12 to 0:36:20( Edit History Discussion )

House Clerk: under current resources receive a higher level credit than others. and as a result certain new renewable energy technologies

0:36:20 to 0:45:35( Edit History Discussion )
Speech By: Blanche Lincoln

0:36:21 to 0:36:42( Edit History Discussion )

Blanche Lincoln: have a more difficult time finding the capital they need to start process of investing in new technology and getting it to the marketplace in a reasonable way so that it's cost effective. these are critical ideashat exist out there, mr. president. we need to make sure that

0:36:43 to 0:37:03( Edit History Discussion )

Blanche Lincoln: everybody is at the we look at renewable energies we see that there are multitude of great ideas out there. but table and then out into the marketplace is a of that journey and if we don't make sure everyone has that same benefit with their ideas and

0:37:04 to 0:37:25( Edit History Discussion )

Blanche Lincoln: technologies in being able to get out there if it is not a fair playing field, mr. president, we're going multiple opportunities. so i hope that we will look forward and in the backwards this terms of how we are incentivizing these renewable energies. so much of what we see in terms of their complications or challenges in finding investment

0:37:26 to 0:37:46( Edit History Discussion )

Blanche Lincoln: capital is particularly problematic for the pursuit of renewable energy opportunities in my home state where biomass is a predominant renewable resource but half the tax kit that many other resources receive. that's ridiculous. here we have a tremendous

0:37:47 to 0:38:08( Edit History Discussion )

Blanche Lincoln: resource right here and available to us not just in the state of arkansas but many states across our country and it can play a tremendous role in lessening our dependence on foreign oil and fin renewable sources of energy. my proposal would level the playing feed for all renewable -- playing field for all renewable sources by increasing the value to full

0:38:09 to 0:38:29( Edit History Discussion )

Blanche Lincoln: credit level for those resources that currently receive only a partial credit. it certainly makes sense not only in the certainly resources that exist today that are moving forward in their technologies but there are also resources down it's amazing to to me to see a what scientists

0:38:30 to 0:38:51( Edit History Discussion )

Blanche Lincoln: are doing even with simple things likal jerks to be able produce oils and looking at how we can use our agricultural by-products whether they're rice bowls or cotton stalks or a haute of other things. any of that woody biomass that we can begin to put to good use and making energy less dependent

0:38:52 to 0:39:13( Edit History Discussion )

Blanche Lincoln: not only on our traditional sources but also imported oil. also today, mr. president, i am introducing legislation that provides long-term certainty for producers and consumers of biofuels. currently the u.s. tax code includes credits to encourage the production of biodiesel and renewable diesel. which are proven alternative

0:39:14 to 0:39:34( Edit History Discussion )

Blanche Lincoln: fuels that wl help us our dependence on foreign oil. every barrel of biofuels that we produce is a barrel of imported oil we won't have to import. these incentives have been extended on a short-term basis in recent years and are scheduled to expire at the end of this year. now, mr. president, when we see

0:39:35 to 0:39:55( Edit History Discussion )

Blanche Lincoln: all of these great ideas and see people who are willing to invest their capital and invest their time and energy and resources into moving these industries to the marketpla and to a reasonable cost-effective way that they can be integrated into the marketplace, it takes resources,

0:39:56 to 0:40:16( Edit History Discussion )

Blanche Lincoln: but it takes predictability in our tax code as well. knowing that they're going to be able to depend on a certain tax treatmenor a certain period of time is what allows -- over a certain period of time is what allows them to access that capital in the capital markets. if these credits were allowed to expire, these new technologies

0:40:17 to 0:40:37( Edit History Discussion )

Blanche Lincoln: in renewable fuels would be priced significantly higher than petroleum diesel and, as a result, would not be competive in the biofuels producers and consumers in our state need the certainty that these economic incentives provide and help to sustain this

0:40:38 to 0:40:59( Edit History Discussion )

Blanche Lincoln: new market. mr. president, we cannot move forward in changing our mind-set and our marketplace from an old energy economy to a new energy economy if we don't embrace the idea that we have got to produce some predictability for these new and emerging industries and

0:41:00 to 0:41:22( Edit History Discussion )

Blanche Lincoln: fuels in a way that they can, particularly in these difficult economic times, access the forward with the ideas and the development and the production of all of these great new ideas that exist out there. my proposal would provide a ten-year extension of the credits through 2018 to provide a stable environment for the

0:41:23 to 0:41:46( Edit History Discussion )

Blanche Lincoln: creation of a strong, domestic biofuels industry. i'd also like to highlight a bill introduced a few weeks ago with senators roberts, snowe, cantwell, and collins that from biomass produced on-site to qualified for the -- qualify four the production tax credit. according to the american forest

0:41:47 to 0:42:09( Edit History Discussion )

Blanche Lincoln: and paper association, the 2005 industry produced 28.5 million megawatt hours of biomass-based electricity, which avoided the use of more than 200 million barrels of oil. now, mr. president, that's just -- there it is plain and simple. what we cane doing, what we

0:42:10 to 0:42:31( Edit History Discussion )

Blanche Lincoln: can be doing with an industry that has available to them the biomass from by-products and from other woody products that are there, maybe discarded or unusable, to be able to produce electricity from a renewable source. the use of biomass electricity, whether produced on-site or

0:42:32 to 0:42:52( Edit History Discussion )

Blanche Lincoln: purchased from a utility, has the same positive impact of reducing fsil fuel consumption and should be encouraged. that's exactly what we want to do. we want to encourage these types of activities and encourage what we can do here in terms of creating new and innovative

0:42:53 to 0:43:13( Edit History Discussion )

Blanche Lincoln: ideas with renewable energy. later this week, mr. president, i plan to introduce a bill to also encourage w training and development. together, i think that these bills will create jobs here at home. they'll help strengthen our economy and reduce our dependence on foreign oil. these are all priorities that i think each one of the members of

0:43:14 to 0:43:34( Edit History Discussion )

Blanche Lincoln: this body seeks to achieve. and i, for one, have decided to put together a plan that i think is particularly good for my state, with a series of different types of bills that i'm introducing, last week, this week, and next week in a way that i think can be for my staivment but i think most senators will find that these are tools that be just as

0:43:35 to 0:43:55( Edit History Discussion )

Blanche Lincoln: effective for their states as well and i encourage them to take a look at what we're doing. next week i will complete the rollout of our arkansas plan by introducing reform measures to simplify the tax code and reduce the burden on america's and particularly arkansas's working families and businesses working to build a tax structure

0:43:56 to 0:44:16( Edit History Discussion )

Blanche Lincoln: that is fair and equitable for all americans. again, mr. president, i encourage my colleagues to look to see how they will benefit their own i worked hard in the senate to be progressmatic, to look for good solutions that are good for everybody and, more importantly, that are focused on the issues that are important to us as a

0:44:17 to 0:44:37( Edit History Discussion )

Blanche Lincoln: country, and that is, getting our economy back on track, making sure that keep their jobs and those that have lost them we can put back to work with the new and innovative ideas that we know americans are so very, very capable of. we must make our nation's working families and our small businesses a top priority. the arkansas plan does just that.

0:44:38 to 0:44:59( Edit History Discussion )

Blanche Lincoln: and i'll continue to fight to brg our families the relief they need and business owners the tools that they require to invest and grow and be competitive in a global marketplace that we have been begging so longingly for over the years. we need to make sure government is going to create that environment where they c

0:45:00 to 0:45:16( Edit History Discussion )

Blanche Lincoln: do just that: invest, and grow and be competitive. thank you, mr. president, and i yield the floor and notice the absence of a quorum. the presiding officer: the clerk will call the roll.