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American Energy for America’s Future. A Town Hall Discussion With Congressman Jack Kingston. 25. 3. 60. Where’s the Oil?. The World According to Oil. Where is it going?. What are we doing with it?. What are we doing about it?.
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American Energy for America’s Future A Town Hall Discussion With Congressman Jack Kingston
Sources: USAToday, Reuters & Yahoo Finance Microsoft (31.6 %) Pfizer (23.5 %) McDonald’s (12 %) Exxon Mobil (9.4 %) Disney (8.9 %) BP (8.4 %) Starbucks (7.8%) Conoco Phillips (6.9%) 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 How Oil Company Profits Compare to Other Business Profits in 2006
Petroleum Displacement Annual Gasoline Savings of 477 Gallons/Year(Assumes 11,000 miles/year*) E85 FFV on E8512 mpg(EPA Adjusted Combined) E85 FFV on Gasoline16 mpg(EPA Adjusted Combined) * Personal Transportation Study - Oak Ridge Nat. Lab Data Book
Petroleum Displacement Annual Gasoline Savings of 94 Gallons/Year(Assumes 11,000 miles/year*) Hybrid Compact Car48 mpg(EPA Adjusted Combined) Compact Car 34 mpg(EPA Adjusted Combined) * Personal Transportation Study - Oak Ridge Nat. Lab Data Book
Who actually gets better MPG of Gasoline? The new Tahoe or the Prius? ’07 Tahoe - Gasoline ’07 Tahoe – E85 ’06 Prius – Hybrid MPG (Fuel) 21 MPG 17 MPG 55 MPG MPG (Gasoline) 21 MPG 113 MPG 55 MPG Memo: Miles per Tank 550 miles 460 miles 660 miles of Fuel 21 MPG 17 MPG 55 MPG E85 Fuel – up to 20% shorter cruising range
There are over 46 models (1 million vehicles) of flexible fuel, hybrid and advanced diesel cars and trucks available right now! 2 million cars per year by 2008!
Provide Incentives for Vehicle Choices for the 21st Century • Double the tax credit for consumers who purchase the most advanced available flexible fuel hybrid electric vehicles that dramatically reduce oil consumption • Remove the 60,000 vehicle cap on the hybrid tax credit to encourage broad market penetration • Add new $300 tax credit to speed introduction of flexible fuel vehicles • Establish 5 year goal for market wide flexible fuel vehicle introduction-- similar to earlier airbag introduction • Establish a program to test and inform consumers about tire fuel efficiency which can improve overall vehicle efficiency by 3-4%
Establish programs and incentives to encourage research and production of near term vehicle efficiency technologies, lightweight materials, and advanced technology motor vehicles • Provide incentives and requirements for the conversion of private and federal vehicle fleets • Establish a program of initial fuel efficiency for new heavy duty trucks and incentives to install auxiliary power units to reduce truck idling • Encourage similar efforts to reduce school bus idling • Reform CAFÉ standards to focus on miles per gallon of gasoline instead of miles per gallon of fuel – flexible fuel vehicles can already reach over 100 miles per gallon of gasoline by using E-85 fuels
Expand Consumer Fuel Choices for the 21st Century • Set a national goal “E10 in 10” – to expand the use of Ethanol for transportation fuel to 10% of total domestic consumption by 2015. • Set a national goal of “20% in 20 years” – to expand the use of all alternative transportation fuels to 20% of domestic consumption by 2025; which might include Ethanol produced from corn, sugar and other cellulosic agricultural products and waste products, Methanol and alternative diesel fuel produced from coal or agricultural products, Hydrogen or electricity • Require plan to meet goals of not less than 50% renewable and 50% domestic resources
Remove all tariffs on imported ethanol used for liquid transportation fuel – we don’t tax Middle Eastern oil why tax Brazilian Ethanol? • Provide incentives to continue research and industrialize new technologies which will bring fuel choice to the consumer • Increase incentives to provide alternative fueling distribution properties.
