For Immediate Release - Thursday August 21st, 2008

Contact: Tara Trujillo, 303.820.2008(o)

IN NEW AD, UDALL STANDS UP FOR MIDDLE-CLASS FAMILIES SQUEEZED BY ECONOMY, ENERGY PRICES

Udall: "We've Got So Much at Stake, and Together We Can Get This Right"

Senate candidate Mark Udall's campaign released a new television ad focused on the economic squeeze Colorado families are facing and the need for comprehensive energy solutions to begin getting the economy back on track.

"It's called the 'middle-class squeeze,'" says Udall in the new ad. "But today, it's more like we're being choked.

"Gas prices, food prices, heating our homes - it's all about energy. And we need to attack this crisis with everything we've got."

Udall outlines his comprehensive approach to fixing our energy policy through expanded domestic energy production and fast-tracking alternative energy technologies that create Colorado jobs. Udall also calls for immediate energy solutions, like cracking down on speculators who drive up the cost of oil - a practice that a front-page story in today's Washington Post reports is far more extensive than regulators previously knew.

"We've got so much at stake," says Udall, "and together, we can this right."

"Middle-class families are the backbone of America's strength, but they are bearing the brunt of our struggling economy," said Udall spokeswoman Tara Trujillo. "Mark is standing up for those families and fighting for energy and economic policies that work for Coloradans."

The ad can be viewed at http://www.markudall.com/Choked and a script is provided below. The ad will run on television across the state.

:30 TV - "Choked" SCRIPT

[UDALL]: It's called the "middle-class squeeze." But today, it's more like we're being choked.

Gas prices, food prices, heating our homes - it's all about energy. And we need to attack this crisis with everything we've got.

Responsible drilling here in America.

Fast-tracking energy alternatives that create Colorado jobs.

And cracking down on Wall Street speculators who drive up the price of gas.

I'm Mark Udall. I approved this message, because we've got so much at stake, and together we can get this right.

The Facts

FACT: MARK UDALL HAS A COMPREHENSIVE ENERGY PLAN-AMERICAN ENERGY, AMERICAN INNOVATION-- THAT COMBATS THE ENERGY CRISIS WITH EVERYTHING WE'VE GOT.

http://www.markudall.com/content/page/american_energy_american_innovation

Mark Udall's Energy plan Would Require that the Oil Companies to Start Drilling the Land they Have. "Even as they lobby for new rights to drill on federal land, oil and gas companies already hold leases on many tens of millions of acres of federal land. Much of this land is not currently being developed. It is not unreasonable to require oil and gas companies to diligently develop federal oil and gas leases and to submit diligent development plans. We also think BLM should maximize diligent development in setting length of lease terms and rentals. [Udall/Salazar Energy Plan]
http://www.markudall.com/content/page/american_energy_american_innovation

Mark Udall's Energy Plan Would Encourage Responsible Drilling Inland. We continue to support responsible drilling on public lands. In fact, drilling on Colorado's public lands has increased by over 25% in the last 8 years and there has been even more rapid growth on private lands. Since 1990, Colorado's natural gas production has increased fivefold; the industry now exports the equivalent of 350,000 barrels a day. Colorado is doing its part in meeting the nation's energy appetite. [Udall/Salazar Energy Plan]
http://www.markudall.com/content/page/american_energy_american_innovation

Mark Udall's Energy Plan would Expand Domestic Drilling in the Outer Continental Shelf. "We support opening additional offshore areas to exploration and development of oil and gas, where affected coastal states are amendable to such expansion, and also support increased funding for the inventory of OCS energy resources called for in the 2005 energy legislation....More offshore energy will only arrive five to ten years from now, so it's not an immediate solution to the current crisis. But we will need that energy when it does arrive. Recently the Minerals Management Service, a bureau in the U.S. Department of Interior, announced that it will begin consulting with state governors and other stakeholders which additional areas may be best to lease, and we support this initiative." [Udall/Salazar Energy Plan]
http://www.markudall.com/content/page/american_energy_american_innovation

Mark Udall Introduced Legislation that Would have Increased the Area Available for Leasing in the Outer Continental Shelf. Mark Udall introduced an amendment that would allow for OCS exploration 100 miles outside of the Florida Coast. The final version of the bill called for OCS exploration 125 miles outside of the Florida Coast. [See Report Number 109-531 - DEEP OCEAN ENERGY RESOURCES ACT OF 2006]

Mark Udall Is Fighting for Governor Ritter's Proposal to Responsibly Develop the Roan Plateau and Introduced Legislation to Enact the Proposal. [H.R. 5851; Udall Press Release 12/20/2007]

Mark Udall Supported Legislation to Start a Gas Leasing Program in the National Petroleum Reserve in Alaska. He voted for the Drill Responsibly in Leased Lands Act of 2008 (H.R. 6515), which would have amended the Naval Petroleum Reserves Production Act of 1976 to direct the Secretary of the Interior to conduct an oil and gas competitive leasing program in the National Petroleum Reserve, Alaska, that includes at least one lease sale each year during the period 2009 through 2013. [RCV#511, 7/17/2008] http://clerk.house.gov/evs/2008/roll511.xml

Mark Udall Supported New MMS Accelerated Review of OCS Drilling. "I welcome the announcement made today by Interior Secretary Dirk Kempthorne that the Minerals Management Service (MMS) will begin an accelerated review of what additional Outer Continental Shelf (OCS) oil and gas resources may be appropriate to drill. I support additional responsible drilling on the OCS, as in 2006 when I proposed the leasing of additional acreage off Florida than was approved by the Republican leadership in the House of Representatives. We need to do everything we can that might bring relief to our consumers that are feeling pinched by excessive gas prices, and MMS' careful and comprehensive review of our OCS oil and gas options is an important step. I am particularly pleased that MMS seeks to include all stakeholders in its process, including, most importantly, the Governors of potentially impacted states." [Udall Press Release 7/30/2008]

FACT: MARK UDALL HAS BEEN A "KEY FIGURE" IN PROMOTING RENEWABLE ENERGY DEVELOPMENT AND GROWTH OF THE NEW ENERGY ECONOMY

Third Party Recognition for Mark Udall's Leadership in Renewable Energy.

Mark Udall...

"a key figure in the drive to put Colorado out front on renewable-energy development." [Denver Post, 10/15/2006]

"a driving force in the proposal to require more renewable energy use in Colorado." [Denver Post, 10/17/2004]

"working to make Colorado a national leader on renewable energy for more than a decade...at the forefront in promoting renewable energy legislation." [Daily Camera, 11/17/2007]

"His [Udall] was a leading voice in the House debate on energy policy in favor of promoting renewable energy sources and energy conservation." [American Planning Association, 03/01/03]

Rep. Udall serves as co-chair of the House Renewable Energy and Energy Efficiency Caucus, and is a recognized national leader in promoting a balanced national energy plan that includes strong investments in renewable energy and energy efficiency programs. [LCV] http://www.lcv.org/newsroom/press-releases/lcv-endorses-rep-mark-udall-for-reelection-in-co-2-house-race.html

Mark Udall's Energy Plan Would Enact a Federal Renewable Electricity Standard of 20% by 2020. Congress should immediately adopt a national Renewable Electricity standard of 20% by 2020. We have already seen the positive effects such a requirement can have on renewable energy development first hand here in Colorado. With appropriate policies, the clean energy economy could generate up to 30 million green collar jobs and $4.5 trillion in revenue in the U.S. by 2030. [Udall/ Salazar Energy Plan]

Mark Udall's Energy Plan Would Also Extend the PTC and ITC to 2012. "Last year we installed $9 billion of wind in the United States. The solar industry is also growing very rapidly. We need to demonstrate our nation's long-term commitment to renewable energy by extending the Production Tax Credit (PTC) and Investment Tax Credit (ITC) until 2012. We also support establishment of incentives that encourage utilities to invest in "smart grid" technologies, an area in which Colorado's Xcel Energy has been a leader." [Udall/ Salazar Energy Plan]

Mark Udall and Former Republican State House Speaker Lola Spradley Co-Chaired the Passage of Amendment 37, Colorado's Renewable Electricity Standard. "Now, renewable energy advocates are trying something new: This summer, volunteers with Coloradans for Clean Energy, a nonprofit organization co-chaired by Spradley and U.S. Rep. Mark Udall , D, set off across the state with petitions in hand, asking registered voters to support a renewable-energy initiative that all voters could decide on in November.

While the state currently gets 2 percent of its energy from renewable sources, under the initiative utilities with more than 40,000 customers would have to generate 10 percent of their electricity from wind, solar, biomass, geothermal and some hydroelectric sources by 2015.

More than 114,000 Coloradans signed the petition, and on Aug. 17 the state approved it - making Colorado the first state in the nation to place the choice for renewable energy directly before voters."[Moffat County News 9/26/2004 (excerpt only)]

Amendment 37 Has Created Real Economic Opportunity in Colorado. "State leaders are thrilled with the economic benefits that have come with the hundreds of new research and manufacturing jobs in pursuit of alternative power... [Gov. Bill Ritter]: ‘Quite frankly, it's how we should have been thinking for 10 years." [Washington Post 8/18/2008]

Mark Udall Introduced and Worked To Gain Passage Of Bipartisan Legislation To Enact A Federal Renewable Energy Standard (RES). Mark Udall worked with Democrats and Republicans to pass bipartisan legislation in the House to establish a federal Renewable Energy Standard (RES) requiring electric utilities to acquire 15 percent of their electricity from wind, solar and other renewable energy sources by 2020 (H.R.3221). Udall first spearheaded legislation to enact a federal RES in 2003.

Mark Udall has Authored and Cosponsored 67 Bills During his Public Service to Expand Domestic Renewable Energy and Energy Efficiency Programs: Throughout his years in public service, Mark Udall has introduced a variety of legislation intended to provide incentives for the increased development and use of renewable sources of energy, including measures that would direct the Secretary of Energy to implement a research and development strategy for increased use of hybrid systems, legislation to increase the energy efficiency of schools, and legislation to increase funding for Defense Department programs in alternative energy and advanced power technology. [List Available on Request]

FACT: MARK UDALL SUPPORTS CRACKING DOWN ON WALL STREET SPECULATORS.

Oil Speculation Has Increased Oil Prices By Up to $60/barrel. The central portion of the bill on the Senate floor targets speculation in the oil market, which some analysts say has added between $40 to $60 to the price of a barrel of oil. [CNN 6/22/2008]

Recent Reports have Concluded that the Speculation Premium is Higher than Previously Thought: Data emerging on players in the commodities markets show that speculators are a larger piece of the oil market than previously known, a development enlivening an already tense election-year debate about traders' influence. [Wall Street Journal, 8/15/2008]

The CFTC Has Said that Speculating Accounts for 81 Percent of the Oil Contracts on New York Mercantile Exchange: "The CFTC, which learned about the nature of Vitol's activities only after making an unusual request for data from the firm, now reports that financial firms speculating for their clients or for themselves account for about 81 percent of the oil contracts on NYMEX, a far bigger share than had previously been stated by the agency. That figure may rise in coming weeks as the CFTC checks the status of other big traders." [Washington Post 8/21/2008]

Mark Udall's Energy Plan would Crack Down on Wall Street Speculators. "We support efforts to responsibly strengthen market regulations, with new authority to investigate and punish fuel wholesalers, retailers and market traders whose actions artificially inflate the price of gasoline and diesel fuel. A bill I supported in the House of Representatives gives the Federal Trade Commission new authority to investigate and punish those responsible for the artificial increase in gas prices as a result of market speculation." [Udall/Salazar Energy Plan]

Mark Udall Voted to Crack Down on Oil Speculation and Price Manipulation Schemes. He supported the Energy Markets Emergency Act of 2008, which would crack down on excessive speculation schemes artificially driving up oil prices. [RCV# 428, 6/26/08]

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