- "The technology to reduce emissions from coal plants is still in the developmental stage. While there are projects underway to capture carbon, commercially deployable technology on a nation-wide scale is still years away. Instead of penalizing companies, we need to foster the research needed to find more efficient ways to create, transport and store energy."
- "The reality is, this legislation actually penalizes, rather than rewards, the technological advances that are being made by companies like Basin Electric Power Cooperative and Dakota Gasification Company in North Dakota. These companies have taken preemptive action to reduce their emissions, but these efforts will not be considered in the allowance allocation formula. This penalty also applies to other utility companies in North Dakota that have taken the initiative to invest in renewable resources."
- "The legislation will potentially increase greenhouse gases when industries overseas increase production because companies here cannot compete due to the increased costs."
- "This bill will force companies that want to capture and sequester CO2 to “pay twice”— once, when they pay the carbon tax, and then again, when they pay for the technology to capture and sequester the CO2."
"Instead of Waxman-Markey, or similar legislation," Hoeven stated, "Congress needs to implement acomprehensive energy policy that will incentivize industry to develop all of our energy resources—both traditional sources and renewable sources—in an environmentally sound manner. The current uncertainty from Congress’s failure to do so is freezing investment of new technologies on the sidelines – technologies that will help our country produce more domestic
energy in environmentally sound, cost-effective ways. "
The complete text of Hoeven's comments is available here.
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