[Congressional Record Volume 154, Number 153 (Thursday, September 25, 2008)]
[Extensions of Remarks]
[Page E1978]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page E1978]]
   COMPREHENSIVE AMERICAN ENERGY SECURITY AND CONSUMER PROTECTION ACT

                                 ______
                                 

                               speech of

                          HON. BETTY McCOLLUM

                              of minnesota

                    in the house of representatives

                      Tuesday, September 16, 2008

  Ms. McCOLLUM of Minnesota. Mr. Speaker, I rise today in strong 
support of the Comprehensive American Energy Security and Consumer 
Protection Act (H.R. 6899) and would like to commend Chairman Rahall, 
Speaker Pelosi, and the Democratic leadership for their hard work on 
this important legislation.
  America stands at a crossroads with regard to our country's energy 
security. In 2008, gasoline and home heating prices have risen to 
record levels, burdening middle class American families during already 
tough economic times. This Congress has a choice to make and America's 
families deserve action.
  Congress can continue to follow the path of the past and increase our 
Nation's addiction on oil companies and foreign produced petroleum from 
countries like Saudi Arabia, Iraq, Venezuela, and Nigeria. Some voices 
now claim that the U.S. can achieve energy independence by exploiting 
all currently protected lands and coastal areas, allowing drilling 
wherever oil companies want to drill. Of course, since the U.S. 
consumes twenty-five percent of the world's oil and possesses less than 
3 percent of global petroleum reserves, the ``drill, baby, drill'' 
rhetoric is both simplistic and simply false.
  The American people need to know that government estimates state that 
if drilling was allowed in all restricted offshore sites and the Arctic 
National Wildlife Refuge (a policy I strongly oppose) it would pump 
only one million extra barrels of oil per day onto the global market by 
2025, less than 1 percent of projected global output. For consumers 
this would translate into a 2 cent reduction in price in the year 2025. 
The ``drill, baby, drill'' crowd appears to be committed to advancing 
the interests of the oil companies while leaving the American people 
with a potentially miniscule price reduction seventeen years from now. 
Their proposal is not a policy solution, but rather a political 
gimmick.
  There is another option, a plan to move America forward towards 
energy independence with a comprehensive energy policy that focuses on 
investments in renewable energy, energy efficiency, conservation, and 
maximizing the potential of existing fossil fuel sources with the 
necessary restrictions to protect the environment. Responsible drilling 
is a part of this plan as a transition to a clean energy future. I will 
continue to oppose any ``give aways'' that allow special advantages to 
oil companies to exploit the limited natural resources belonging to 
American taxpayers and limit the ability of American families to 
receive a fair price at the pump.
  Today, oil companies have leases on 68 million acres of federal 
lands. Right now they have access to drill within 182 million acres of 
the Outer Continental Shelf (OCS) surrounding Alaska and the lower 48 
states. This bill, H.R. 6899, requires that oil companies make use of 
these existing leases by commencing exploration on these lands or 
relinquish their leases. If more drilling is the goal of the petroleum 
industry, they currently have the legal authority to do it on 68 
million acres of federal land and 182 million acres of the OCS. And, 
with oil companies profits projected at $160 billion for 2008, they 
have the money to do it without federal tax breaks or sweetheart deals 
at taxpayer expense.
  House Democrats recognize that American families are seeking relief 
from high energy prices and a stabilizing of prices. For this reason 
this energy bill allows for the release of ten percent of the light 
crude from the Strategic Petroleum Reserve to increase domestic oil 
supply. In the short-term, allowing this oil onto the market will help 
to stabilize prices.
  It is time to take America in a new direction, moving away from the 
Bush Administration's policy of dependency on foreign oil and toward 
bold investments in America's energy future. By repealing $19 billion 
dollars worth of unnecessary subsidies to oil companies and investing 
these funds in clean renewable energy, the Comprehensive American 
Energy Security Act will create of thousands of new American jobs, 
reduce America's dependence on foreign energy sources, and ensure 
responsible stewardship of our environment today and for generations to 
come.
  Today, I reflect the views of my constituents by voting for a forward 
thinking, comprehensive energy policy. Passing the Comprehensive 
American Energy Security Act will be a big step towards energy 
independence and the creation of a green American economy.
  I urge my colleagues to support the Comprehensive American Energy 
Security Act.

                          ____________________