[Congressional Record Volume 142, Number 33 (Tuesday, March 12, 1996)]
[Extensions of Remarks]
[Page E323]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

[[Page E323]]


          ENERGY SECURITY, 5 YEARS AFTER THE PERSIAN GULF WAR

                                 ______


                           HON. DAN SCHAEFER

                              of colorado

                    in the house of representatives

                        Tuesday, March 12, 1996

  Mr. SCHAEFER. Mr. Speaker, what is the cornerstone of a sound and 
thriving economy? What is an absolute prerequisite for American 
national security? What is the key to this country's overall well-
being?
  The answer is a vibrant domestic energy industry, one which will help 
reduce this country's dependence on foreign oil imports.
  Unfortunately, despite the development of alternative forms of energy 
and the tremendous gains in energy efficiency in the past two decades, 
we are farther now from energy independence than ever. Last year, for 
the first time in history, the United States imported more than half of 
the oil it consumed. In 1973, during the oil crisis that virtually 
paralyzed the country, about 35 percent of our oil supplies were 
imported.
  Though oil appears to be plentiful and real prices for energy are at 
or near all-time lows, we must not be lulled into a false sense of 
complacency. We must ensure the viability, productivity, and 
competitiveness of the domestic American energy industry.
  As chairman of the Commerce Committee's Subcommittee on Energy and 
Power, I am committed to supporting policies that will help lead to 
greater American energy independence in the years to come.
  Though the issue of energy security does not grab as many headlines 
these days as it did 5 short years ago during the Persian gulf war, I 
hope my colleagues understand that it will grab the headlines again 
someday in the future. We must take steps now to ensure that future 
generations of Americans do not suffer because of any failure on our 
part to safeguard the integrity and viability of our country's domestic 
energy industry.

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