Donnelly: U.S. energy policy a huge threat

WASHINGTON, March 1 (UPI) -- U.S. Rep. Joe Donnelly, D-Ind., said Saturday the government's current energy policy is a threat to national security and to hard-working citizens.

The congressman focused on the current national energy policy during the weekly Democratic Radio Address, saying it has allowed oil companies to reap record profits by continually raising the price of gasoline.

"At a time when America is confronted by political instability around the world, our nation continues to rely on foreign sources of oil for nearly 65 percent of our supply," Donnelly said in prepared text carried on Fox News' Web site. "There is no way around it -- our current energy policy is bad for working families, bad for the American economy and a threat to our national security."

Donnelly said the Democrat-controlled Congress has been taking action to fight this growing problem, including the House's passage of the Renewable Energy and Energy Conservation Tax Act last month.

The representative said the legislation was designed to repeal tax subsidies benefiting large oil companies and reinvest funds into renewable energy research.