[Congressional Record Volume 142, Number 40 (Thursday, March 21, 1996)]
[House]
[Pages H2562-H2563]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            ENERGY SECURITY

  (Mr. WATTS of Oklahoma asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. WATTS of Oklahoma. Madam Speaker, as we note the fifth 
anniversary this month of the successful conclusion of the Persian Gulf 
war, we must also rededicate ourselves to achieving energy security. 
Five years after defeating Saddam Hussein's armies, America still 
depends on other nations to meet the majority of our petroleum needs. 
We as Americans face the prospect of depending on foreign nations, 
often unstable nations, to provide us with up to 68 percent of our oil 
supply within the next 20 years. That is a dependence on foreign oil 
that America should not be exposed to.
  America does not lack for proven oil reserves. Today, the House 
Resources Committee has scheduled a hearing on America's oil and 
natural gas resource base and Federal initiatives to encourage domestic 
oil and gas exploration. I strongly urge my colleagues to pay close 
attention to this hearing. Experts from the industry will discuss the 
promise of oil and natural gas development in America. For example, did 
you

[[Page H2563]]

know we have over 60 years worth of proven oil and gas reserves waiting 
to be developed? Why are we not relying on our own resources rather 
than on unstable foreign resource?
  Today at the Resources Committee we will hear answers from America's 
oil and natural gas industry on how we, as leaders of this Nation, can 
help make America more secure against the threat of oil supply 
disruptions. I strongly encourage my colleagues to listen.

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