Ed on Energy

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Ed Potosnak knows that current policies are not ending our addiction to foreign oil and that we
need to make a change in order to help America get its edge back. Current policy proposals do not
contain the changes to energy policy necessary to yield new resources or a new energy economy.
Policies that transfer costs to consumers are unacceptable.

In order for American energy policy to create jobs and grow our economy in the next century,
without causing lasting environmental damage or leaving us beholden to foreign sources,
three criteria must be met. The cost of energy must not increase for consumers,
greener transportation and an investment in new energies must be prioritized.


Stabilizing Cost for energy Consumers

We must decrease our dependence on fossil and mineral based energy because they are
finite and create harmful pollution. Energy reforms such as Cap and Trade fail to adequately
solve our energy problems because they unfairly reward polluters in the short term.

Most notably, an overemphasis has been placed on measures that transfer the cost of
change onto consumers. Though traditional, carbon based energy sources are the
cheapest and most abundant, the ultimate goal of reforming our energy system is to
allow it to occur in a competition based economy. Compelling consumers to carry the
burden of energy reform - as with Cap and Trade - will only work against true reform.


Expanding Greener Public Transportation

American society relies on cars and trucks to function. Only when we are able to increase
efficiency and effectively reduce the amount of dirty energy we consume for transportation,
will we be able to significantly reduce the amount of finite, polluting energy.

Ed knows that if we want to change our energy economy for the better, we must
prioritize investment in better transportation systems, like railroads.
The expansion and upgrading of existing tracks will create jobs in the short terms
and reduce energy costs in the long term. Mass transit networks should also be
improved to reduce energy consumption.


Increase Service and Incentivize Less Polluting Technologies

U.S. taxpayers subsidize oil companies to the tune of $20 billion a year.
These subsidies are awarded to an industry that reports record profits quarter after
quarter, year after year. These companies are still profiting while our country is
reeling from two oil rig explosions and stunning unemployment. Ed will end the
shameful practice of providing taxpayer subsidies to line their pockets.
Ed favors incentivizing less polluting technologies. The United States has the research
and development capacity to lead the world in the development of these new technologies.
America led the world in the last century in innovation and we can do so again.

We can get our edge back by changing our priorities when it comes to taxpayer
incentives. Instead, we should be investing in Research and Development to discover the
innovations that will lead to the renewable energy sources of the future. New technologies
will help our country get out economy back on track. The global economy of the future
will be powered by the new and emerging technologies we develop today.
Most importantly, they will be built by workers in high paying jobs.

Most importantly, Ed knows that serious consideration should be
placed on the amount of risk large banks can take on in their
proprietary trading of investments. Limiting the amount of assets that
can be engaged in reckless speculative ventures will protect the trust
and assets New Jerseyans in our financial systems.

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