S 3454 ISCommentsClose CommentsPermalink

To transfer unexpended Iraq reconstruction funds to develop renewable energy and improve energy efficiency in the United States, and for other purposes.CommentsClose CommentsPermalink

September 9, 2008CommentsClose CommentsPermalink

Mr. DORGAN introduced the following bill; which was read twice and referred to the Committee on AppropriationsCommentsClose CommentsPermalink

To transfer unexpended Iraq reconstruction funds to develop renewable energy and improve energy efficiency in the United States, and for other purposes.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘Iraq Self-Sufficiency and American Energy Independence Act of 2008’.CommentsClose CommentsPermalink

SEC. 2. FINDINGS.

Congress finds that--CommentsClose CommentsPermalink





(1) Iraq has abundant financial resources to fund relief and reconstruction projects;CommentsClose CommentsPermalink





(2)(A) in November 2007, the Government of Iraq estimated that oil income in 2008 would amount to $35,000,000,000; butCommentsClose CommentsPermalink





(B) with high crude oil prices and Iraq oil production at record levels, the Special Inspector General for Iraq estimates that oil revenues could exceed $70,000,000,000;CommentsClose CommentsPermalink





(3) Iraqi Deputy Prime Minister Barham Salih stated recently that ‘Iraq does not need financial assistance.’;CommentsClose CommentsPermalink





(4) the Government Accountability Office estimates that the Government of Iraq--CommentsClose CommentsPermalink





(A) has accumulated a budget surplus of approximately $29,000,000,000 from fiscal year 2005 through 2007; andCommentsClose CommentsPermalink





(B) will accumulate a budget surplus of between $38,200,000,000 and $50,300,000,000 for fiscal year 2008;CommentsClose CommentsPermalink





(5) according to the July 2008 quarterly report of the Special Inspector General for Iraq--CommentsClose CommentsPermalink





(A) Congress has appropriated $43,560,000,000 for the major United States reconstruction accounts in Iraq; butCommentsClose CommentsPermalink





(B) over 1/4 of those funds, or $12,570,000,000, have not yet been expended, including unobligated funds from appropriations for prior fiscal years; andCommentsClose CommentsPermalink





(6) those unexpended funds would be put to much better use in developing renewable energy sources and improving energy efficiency for the United States, so as to reduce the dependence of the United States on foreign oil.CommentsClose CommentsPermalink

SEC. 3. TRANSFER OF IRAQ RECONSTRUCTION FUNDS FOR RENEWABLE ENERGY AND ENERGY EFFICIENCY IN THE UNITED STATES.

(a) Transfer- In the case of the amounts described in subsection (b)--CommentsClose CommentsPermalink





(1)(A) 2/3 of the amounts shall be transferred to the Office of Energy Efficiency and Renewable Energy of the Department of Energy; andCommentsClose CommentsPermalink





(B) 1/3 of the amounts shall be transferred to the Office of Science of the Department of Energy; andCommentsClose CommentsPermalink





(2) the amounts shall be available, until expended, for research, development, and demonstration to develop renewable energy and improve energy efficiency in the United States.CommentsClose CommentsPermalink





(b) Covered Amounts- The amounts described in this subsection are any amounts that are unexpended as of the date of enactment of this Act among amounts as follows:CommentsClose CommentsPermalink





(1) Amounts in the Iraq Relief and Reconstruction Fund.CommentsClose CommentsPermalink





(2) Amounts in the Iraq Security Forces Fund.CommentsClose CommentsPermalink





(3) Amounts for the Economic Support Fund authorized under chapter 4 of part II of the Foreign Assistance Act of 1961 (22 U.S.C. 2346 et seq.) that are available for Iraq.CommentsClose CommentsPermalink