N.H. Senate candidates talk fuel prices, economy

Laconia Daily Sun     August 8^th, 2008

CONCORD (AP) — Both Republican Sen. John Sununu and Democrat Jeanne Shaheen say tax incentives for developers and users of renewable energy can help bolster the nation’s economy as well as relieve the pain of high fuel prices. The Senate candidates promoted the tax breaks in response to an Associated Press survey on a range of economic issues. Though they disagree on the extent to which the United States should pursue offshore oil drilling, Shaheen and Sununu found some common ground on alternative fuels. Asked what steps Congress should take to stimulate the economy, Sununu said any long-term plan should include “a balanced approach to energy that includes conservation, incentives for clean, renewable energy and greater production of oil and gas deep offshore.” “We should encourage the use of wind, solar, biomass and other clean, renewable energy by extending tax credits to homeowners and businesses investing in these technologies,” he said in answering a question about how Congress can help stabilize energy prices. “We need to produce more energy here at home by opening up promising areas for new exploration. ... We should remove the ban on new offshore exploration and give willing states a voice in opening up new reserves.” Shaheen opposes lifting that ban, saying oil companies should be drilling on land they already lease. She said Congress needs to “stop taking advice on energy policy” from the oil industry and could immediately help bring down prices by cracking down on speculation on the price of oil, and closing loopholes that allow traders to manipulate oil markets. Longer term, she said the country should focus on investing in alternative and renewable energy sources and tax incentives for those who make buildings more energy effi cient. “I also believe that we should end the billions of dollars in tax giveaways to Big Oil and use that money to invest in the development of alternative and renewable energy sources that are going to create jobs and move us off our dependence on foreign oil,” she said. The two recently held competing conference calls on energy prices. Sununu criticized Shaheen for not supporting new offshore drilling; Shaheen faulted Sununu for voting against Senate Democratic proposals to spend more on federal home heating assistance and to further restrict oil speculators

HOME.