Reps. Sheltrown, Byrnes, Lindberg, McDowell, Lahti, Miller, Lemmons, Sak, Valentine, Meisner, Ebli, Clemente, Leland, Espinoza, Mayes, Warren, Angerer, LeBlanc, Hopgood, Hammon, Condino and Dean offered the following resolution:

            House Resolution No. 67.

            A resolution to memorialize the Congress of the United States to divert excess oil company profits to provide incentives for the development of biodiesel and ethanol production facilities and to encourage the use of these fuels in diesel fuel vehicles and flexible fuel vehicles.

            Whereas, High gasoline prices will impact all sectors of Michigan's economy. During the past year, the price of regular gasoline has approached, and in certain regions of the state exceeded, $3.00 per gallon. This price is substantially higher than the price of gasoline sold previously in Michigan. These extreme gasoline prices disproportionately impact Michigan's manufacturing, agriculture, and tourism sectors, which are highly dependent on fuels and are negatively affected by soaring fuel costs; and

            Whereas, Oil companies reported record increases in their 2005 profits compared to a year earlier. In particular, Exxon-Mobil reported $36.1 billion in 2005 profits, or 43 percent higher than the previous year, making it the world's largest corporation. Royal Dutch Shell's 2005 profits reached $23 billion, exceeding its 2004 earnings by nearly a third. Exceptional profits were also reported by Chevron, British Petroleum, and ConocoPhillips, the other major international oil companies; and

            Whereas, These excessive oil company profits are not simply a historic concern. The most recent financial information available for Exxon-Mobil indicates that during the second quarter of 2006, its net income rose to $10.4 billion, up about 36 percent from the second quarter of 2005. Other oil company's profits have also followed suit. Royal Dutch Shell's second quarter net income climbed nearly 40 percent to $7.3 billion, British Petroleum's net income rose 30 percent to $7.3 billion, ConocoPhillips' net income jumped 65 percent to a record $5.2 billion, and Chevron's net income increased 18 percent  to $4.3 billion; and

            Whereas, It is becoming increasingly apparent that alternative fuels must be a critical component of the state's and the nation’s energy supply. Access to the world supply of crude oil is very precarious, and gasoline and diesel fuel prices continue to fluctuate; and

            Whereas, Biodiesel and ethanol are renewable alternative fuels produced in the United States primarily from soybean and corn crops, which are prominent crops in Michigan's agricultural sector. Advancing the development of biodiesel and ethanol by using excess oil company profits will help the United States meet its energy needs, lessen our dependence on foreign oil supplies, and reduce tailpipe emissions that have the potential to harm human health and the environment; now, therefore, be it

            Resolved by the House of Representatives, That we memorialize the Congress of the United States to divert excess oil company profits to provide incentives for the development of biodiesel and ethanol production facilities and to encourage the use of these fuels in diesel fuel vehicles and flexible fuel vehicles; and be it further

            Resolved, That copies of this resolution be transmitted to the President of the United States Senate, the Speaker of the United States House of Representatives, and the members of the Michigan congressional delegation.