[Congressional Record Volume 147, Number 75 (Saturday, May 26, 2001)]
[Extensions of Remarks]
[Page E994]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     PRESIDENT BUSH'S ENERGY POLICY

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                         HON. JERRY F. COSTELLO

                              of illinois

                    in the house of representatives

                          Friday, May 25, 2001

  Mr. COSTELLO. Mr. Speaker, for months now, people in our area and all 
over the country have been upset with the ever-increasing cost of 
gasoline, and rightfully so. At a time when we are facing one of the 
most serious energy shortages in history I am especially interested in 
President Bush's plan for a national energy policy. I have strongly 
supported a long range energy policy for our country.
  I believe the President's energy plan has many good points including 
a $2 billion coal initiative and increased use of reformulated 
gasolines using ethanol. However, I believe his proposal can be 
improved upon. For example, we have the ability now, to use 
reformulated gasoline in a much greater capacity. In addition, Congress 
needs to ensure the President's new Clean Coal Power Initiative is 
adequately funded. Coal, which we have an abundance of in Southwestern 
Illinois, is an excellent alternative use of fuel. I think the 
President's coal initiative is a great idea that can be expanded to 
include incentives for new and improved clean coal technologies. We can 
and should use this abundant resource in an environmentally sound way. 
Coal usage will greatly reduce our dependance on foreign oil and avoid 
a band-aid approach, like drilling in the Arctic National Wildlife 
Refuge.
  Mr. Speaker, excluding California and Hawaii, my home state of 
Illinois is faced with the highest gas prices in the country. Cutting 
gas prices now is essential! This can be done in a variety of ways: 
opening marginal use wells, producing more ethanol and ensuring oil 
companies are not making record breaking profits from increased gas 
pricing.
  I have also started hearing from many farmers who want to hear more 
about the role ethanol will play in the President's plan. I was very 
disappointed to learn that Vice President Cheney does not believe 
alternative fuels are a viable option right now. Cheney stated ``Years 
down the road alternative fuels may become a great deal more plentiful. 
But we are not yet in any position to stake our economy and our own way 
of life on that possibility.'' We can and should use alternative fuels 
now! In 2000 alone the ethanol industry expanded production by 155 
million gallons and is on course to increase by an additional 400 
million gallons in 2001. Each day more than 5 million gallons of 
ethanol are blended into about 65 million gallons of gasoline--adding 
critical volume to a tight gasoline market and reducing the pressure on 
price. Ethanol is far less expensive than MTBE--refiners could replace 
$1.50 of MTBE with 50 cents of ethanol.
  Mr. Speaker, I hope Congress will ensure improvements are made to the 
President's plan that will allow for immediate relief and assure our 
constituents that we will not continue the upward spiral of higher gas 
prices or greater dependance on foreign oil year after year.

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