CLINTON DETAILS PLAN FOR STRATEGIC ENERGY FUND

In second "HillCast," Hillary talks about her plan to spur development of clean and renewable energy and make America less reliant on foreign oil

In a new video released on her web site today, Hillary Clinton details her plan to create a Strategic Energy Fund to tackle America’s energy challenges. The video is her second “HillCast,” a regular series of web broadcasts Senator Clinton will deliver over the coming months on important issues facing Americans.

“The more energy self-sufficient we become, the more we can stop spending billions of dollars and sending them to unstable regimes all over the world, some of whom are even financing terrorism against us. And the sooner we can start protecting our planet, the better off we will all be.” Senator Clinton says in today’s video. “I’m proposing we undertake an Apollo-like effort to make clean and alternative energy the energy of America.”

The Strategic Energy Fund would raise $50 billion to fund energy technologies that will reduce America's oil dependence and greenhouse gas emissions while promoting new jobs and a cleaner environment. The Fund would be created by eliminating oil company tax breaks, placing a temporary fee on oil company profits that exceed a 5-year baseline and ensuring that they pay their fair share of royalties for drilling on public lands. The fee would be in place for two years, and companies could offset their fee by investing in alternative energy technologies such as ethanol and wind power.

“The country that both split the atom and that put a man on the moon can take the oil out of our tanks and utilize the power of technology to find smart solutions for our energy future and to create millions of jobs throughout the United States,” Senator Clinton adds in the video. “Together we’re going to transform this country from energy dependence to energy independence, and turn global warming into what I believe will be an historic global renewal.”