January 30, 2006.

In light of the upcoming State of the Union, Senator Hillary Clinton
called today, in a letter to President Bush, to embrace now her October
2005 suggestion for a Strategic Energy Fund where the oil industry can
reinvest their profits in America’s future.

To create the fund, a temporary fee would be attached to a portion of
the profits of oil companies who do not invest their profits in
increasing refinery capacity, renewable energy, and other energy
infrastructure investments needeed to secure America’s energy future.

Above suggestion becomes now even more relevant, following the
ExxonMobil Corporation reported record profits for a US company - a
windfall due to high oil and gas prices.

“In addition” - Clinton wrote - “the Fund could be enhanced by
repealing the new tax breaks established for oil companies in the
energy bill.”

We think that viewing the bare reality of the oil industry sitting on
funds that they talk about as needed to expand a future energy supply -
but really doing nothing about it - a clearly obscene site calling for
legislative intervention. HILLARY IS RIGHT!