Re: What is your counsel?

Description: Alternative energy sources are important foreign policy tools.

Question: How can we lessen America’s dependence on foreign oil?

Transcript: Well I believe our dependency on OPEC oil is a major problem. We have legislation pending now in the Senate. I introduced, along with Senator Cole, a provision to take away the antitrust exemption, which OPEC, Saudi Arabia, Venezuela and the other OPEC nations have. They sit down in a room, reduce supply and the prices go up. We need to develop alternative sources of energy and we’re doing it now with ethanol, renewables. An energy bill passed the Senate, which is a step in that direction.

Question: What is government’s role in promoting alternative fuels?

Transcript: Tremendous. Tremendous. It is the tax incentives which have led to a lot of oil exploration over the years. The depletion allowance and tax breaks. And now we’re structuring tax breaks for ethanol, and we are putting requirements saying that electric companies have to have a certain amount of renewables. And we’re putting requirements on automobile manufacturers to produce cars which give more miles per gallon. So the government is a tremendous factor. Zach

Recorded on: 7/4/07