Thank you very much, Mr. Speaker, and I have enjoyed listening to the last hour from my colleagues on the other side of the aisle give their version of what we should do to deal with the energy problems that we face. You know, I found it…
Thank you very much, Mr. Speaker, and I have enjoyed listening to the last hour from my colleagues on the other side of the aisle give their version of what we should do to deal with the energy problems that we face.
You know, I found it amusing what we didn't hear in the course of their discussion. They were able to talk for one solid hour, and there was no mention of conservation. The fact that the United States has less than 3 percent of the world's proven reserves of oil, that we consume almost 25 percent of it, that we waste more than any country in the world, that it has taken George Bush longer to get to 35-miles-per- gallon fuel efficiency than it took Jack Kennedy to get to the moon, not one word about something that was going to make a difference.
We didn't hear one word about how long it would take if they got everything they wanted, if they surrendered America's energy future in toto by giving all of the remaining oil and gas leases going to some of our most precious and sensitive areas that was highly speculative, and is in fact opposed by some Republican governors like Governor Schwarzenegger of California. If you just turned all of that over, they didn't talk about how long it would take to produce. And our friends at home can do a little bit of research from independent analysts, and they'll find that that's 7 to 10 years into the future. They didn't talk about how long that would take.
You didn't hear one word about popping the speculative bubble. If they had been attending the hearings that we have had here in Congress in the course of the last couple months, we would find that experts, including people from the oil industry, have testified that up to $50 of this increase in the price of a barrel of oil is due to speculation. And we haven't heard one word about what they would do to pop the speculative bubble, which much faster than anything you can talk about draining all our resources and turning available land over to the oil companies, this would make a difference immediately.
We haven't heard from them about all of the flip-flopping that's going on. You know, we heard this land is off-limits. George Bush I issued an executive order that declared areas off limits to drilling. George Bush II and the Republican Congress for the previous 6 years didn't do anything about this. But George Bush, by a stroke of the pen, could reverse what his father put in place. Yet our friends didn't have anything to say about that.
It's interesting watching the flip-flopping that's going on in the Republican party. John McCain was against drilling in these sensitive areas when he was a candidate for President in 2000. In fact, he's maintained a position against drilling in the sensitive offshore areas until a few days ago when he's decided to change. Of course, he does not agree with my friends on the other side of the aisle that we should go into the Arctic Wildlife Refuge. Maybe he understands that that's the last place we should drill instead of the next.
We're finding that it is fascinating watching the jujitsu here where people are flipping around changing positions and there is no consistency, there is no honesty in terms of how long it would take, there is no effort to deal with some of the things that are actually running up the prices.
Mr. Speaker, the Democrats in Congress have been passing initiatives since we regained control to improve fuel efficiency that was approved over the objection of the Republicans and over the objection of George Bush and was delayed. We have had initiatives to improve efficiency to give people more tools, to shift from lavish subsidies to the most profitable corporations in the history of the planet, the oil companies that really don't need extra subsidies, and give it to alternative sources of energy like wind and solar that do need it now.
We are very concerned that we use the resources that are available now. It is absolutely facetious to suggest that we have locked up all of America's energy resources. What you didn't hear from my friends that have been talking for an hour is the fact that there are 68 million acres already under control of the oil and gas industry that they have chosen not to explore. They're not in production. 68 million acres. Indeed, the majority of the land that is available right now they have chosen not to use.
We have legislation from a number of my colleagues that I am proud to cosponsor that would simply require that the oil companies use it or they lose it. If they are going to have these leases, they're going to have to explore it. And if they don't, then they will lose the opportunity to tie up even more land. That simple expedient of using it or losing it would spark far more exploration than anything my colleagues talked about for an hour and would do it much sooner.
Second, we need to pop the speculative bubble. They haven't said anything about that. Not one word, other than one of my colleagues, to acknowledge that the speculators are at work. But no focus about what we're going to do about it.
As I mentioned, we have heard, including a top executive from ExxonMobil that testified before our Committee on Energy Independence and Global Warming, that speculation, along with weakening of the dollar and geopolitical risk, is responsible for driving oil prices up to $50 a barrel.
Now, I don't know whether the speculative bubble is $5 a barrel or $50 a barrel, but that is something that this Congress should do something about. It's something the administration has turned a blind eye to, and it's something my Republican colleagues have nothing to say about.
We have legislation to deal with that.
Congressman Larson from Connecticut has legislation that is pretty straightforward that if you are going to speculate in oil futures, you have to be willing to take delivery. Now, this is supported by people who are in the oil--it wouldn't affect anybody who is in the oil and gas business who's producing or delivering, but the people who are simply there to profit from speculation would have their wings clipped a little bit.
The Enron loophole which excluded this speculative activity in energy which was approved under the watch of
this administration and the Republicans of Congress, excluded it from supervision from the Commodities Futures Trading Commission. We think it's time to close the Enron loophole. We think it's time to have more oversight rather than less.
Let's deal, for instance, with the amount of margin, the leverage that people who are doing something that's perfectly appropriate trying to make a buck, but we want to make sure that we don't have yet another speculative bubble that is hammering the American economy like we've seen with the housing bubble, what we saw in the stock market bubble. People turn a blind eye to it. We suggest we shouldn't do that.
It is important to ramp up efforts at conservation. As I mentioned, it's taken George Bush, who sat in before us speaking from the podium immediately in front of me and declared that we were addicted to oil, the same George Bush who said at $50 a barrel the oil companies didn't need subsidies to be encouraged to develop oil resources but yet has consistently fought our efforts to shift unnecessary subsidies when oil prices were twice that.
It's taken this administration longer to get to 35 miles per gallon than it took Jack Kennedy to get to the moon.
We need to help provide consumers with more choices. We need to accelerate our efforts dealing with alternative fuels.
I see my colleague, Jay Inslee, has joined us here in the Chamber. Congressman Inslee serves with me on the Speaker's Select Committee on Energy Independence and Global Warming who's done a great deal of work and research and has listened to the testimony that I have heard that there are a vast array of entrepreneurs ready to go right now with plug-in hybrids, with electric cars, that we should be accelerating this effort.
And before I turn to my colleague to elaborate on that, somebody who speaks with great passion, authority, and conviction, I would mention that the Federal Government itself, under the Republican administration, continues to have a vast fleet of gas-hungry SUVs. We're spending $3\1/2\ billion through GSA for hundreds of thousands of vehicles and millions of gallons of gasoline. Wouldn't it be nice for this administration to get serious about not competing with the rest of American consumers by moving to more fuel-efficient cars ourselves, more biodiesel, alternative energy sources, plug-in hybrids, to be a leader rather than making the problem worse?
Congressman Inslee, I appreciate your taking time late at night to join me. I appreciate your leadership and advocacy, and I wonder if you might want to talk a little bit about some of the choices, based on your research and work, that should be made available to the American consumer.
I appreciate, Mr. Inslee, your continued advocacy, being on message, moving legislative initiatives, and helping educate the American public about the potential of the New Apollo Project, the potential for our economy, the potential for a new era.
I want to conclude because I guess we only have half an hour, so I've got a few minutes left. So I'm going to conclude by just running through what we didn't hear this evening. I want to be very, very focused on this because what we didn't hear was an honest explanation of what the problem is and where we're going to go. If for some reason we have a few more moments, I'll be happy to flip back to my friend, but let me just finish my thoughts here.
The notion that we are going to somehow surrender our energy future to the Big Oil companies, allow them to lease everything else, and have it their will to take some of our most precious, sensitive places and run roughshod over the will of the people in California or Florida or elsewhere, New Jersey, I mean, a whole host of places that would be affected by this and somehow get $2 a gallon gasoline is poppycock. And I think my good friend from Washington said hooey.
But you look at any independent, honest, objective expert, and they will say, you may be able to affect things 7 to 10 years from now a penny or two below what the price otherwise would be because we're caught up in a global initiative.
It is as phony as Senator McCain's proposal for a gas tax holiday which would only give the holiday to the Big Oil companies, and we'd rely on their magnificent generosity to trickle a little of that down. No indication that that would happen.
We didn't hear one word about global warming, which even Senator McCain and Senator Obama agree on and we are going to be dealing with a carbon-constrained economy.
Not one word about conservation. We can't afford to continue to waste more oil than any country in the world.
We heard an attack on cap-and-trade, which is where the United States and every other developed economy is going. We're going to have a carbon-constrained economy. We're not going to enable people to continue to pollute the environment with massive amounts of carbon, slowly cook the planet, raise sea levels and temperatures with extreme weather. That's not going to happen. The American public understands that. The evangelical community, the environmental community, organized labor and business are moving in this direction.
It was George Bush the first's decision to issue many of these protections via executive order, and George Bush the second--if he had been serious about this, would have done it years ago. He would have changed his father's decision if he was serious about it before he was running in Florida and California. He hasn't.
It will take 7 to 10 years for this to get to market. We will, as Mr. Inslee has mentioned, we will deal with closing the Enron loophole and squeezing the speculators.
We need to use what we have now, the use-it-or-lose-it. Sixty-eight million acres are now open to the large oil companies right now, an area the size of Georgia and Illinois combined. We're going to advance legislation that says they we're going to use that before we mortgage the rest of our energy future for them, or we'll give it to somebody who will.
I'm amazed that my friends continue to come to the floor and attack bicycles. I find that somewhat amusing because I've been working for a dozen years on bike partisanship. I know there are many Members on the Republican side of the aisle that don't believe the rhetoric of their extreme Members and their leadership who belittle the role that new technologies can play or the application of old technologies.
You know, today, if you go down to the G2 entrance in the Rayburn building, you can't find a place to park a bike. Members and staff are coming here in droves. At $4 or $5 a gallon, you bet it makes sense. Making an opportunity for our children to walk or bike to school safely, you bet it makes sense. Would we be talking about morbidly obese, 300-pound sixth graders if more kids could do that? Yet somehow the Republican leadership has chosen to try and belittle the most effective form of urban transportation ever designed and, in fact, is supported by many of the Republicans themselves.
At the Republican convention and the Democratic convention, Mr. Speaker, we're going to have 1,000 bicycles, and you watch these people who try and belittle cycling. You watch delegates line up to use it, to travel around Minneapolis and Denver, to actually see the community at 10 miles an hour, to get through security and parking hassles, to be able to get a little exercise and save some energy.
But that is symptomatic of their approach to try and score political points, to make fun of things that make a difference, and ultimately, it's why their approach is doomed to fail.
Democrats, since we assumed control, have been working on initiatives to give the American consumer more choices, to protect the environment, to encourage conservation, to give them more fuel-efficient cars, to give them mass transit, to give people in rural and small town America and our urban centers more opportunities about how they move, where they live, to get more out of the energy that we've got and develop new technologies that are more sustainable, that will lead to the revitalization not just of the environment but to our economy.
I would be happy to yield to the gentleman.
Thank you. And I appreciate your pulling these pieces together, Congressman Inslee. I think you hit the nail on the head.
I am hopeful that throughout all of this, that we can conduct this debate from this point forward by being honest with the American public. There is no one single cause for what we've seen happen with oil prices--speculation, world market, increased demand, hiccup here, there are a whole host of things that we see. Likewise, there is no one single solution. We need a comprehensive array.
We do want to restrain speculation, whether it's $1 a barrel or $50 a barrel. It's unfair to the American consumer. It's unfair to the industries and small business people, and homeowners that rely on fairly priced petroleum products.
We need to encourage using the energy leases that are out there right now before we consider surrendering our energy future by turning over even more leases. Use the 68 million acres that are available now.
We have to stop wasting more oil than anybody else on the planet. Three times I've had an amendment that has passed in our legislation to close the Hummer loophole, but with our tax code, we're still subsidizing, with your tax dollars, the purchase of the largest, most fuel-inefficient, expensive vehicles, costing the Treasury hundreds of millions of dollars and working against ourselves. We need to change that; something that we have been unable to do with the current configuration, but it has passed the House.
We need to develop new energy sources, not just drain petroleum dry. But we need to be serious about solar, wind, tidal. We need to be serious about new technologies, as you point forward. We need to work on how the land use system is in place. In too much of America it's illegal for somebody who works in a drugstore to live in an apartment above that drugstore. We artificially separate uses.
We have too many long commutes. Too many people have to burn a gallon of gas to buy a gallon of milk. We need to have a more rational and thoughtful approach to a land use system that will make transportation work better.
And last, but not least, we need more transportation choices for Americans, whether it's Amtrak revitalized, streetcars, buses, light rail, heavy rail--God forbid bicycles and pedestrian. They're all part of a mix. And every American ought to have a wider range of choice, and the Federal Government ought to be working to do this.
Mr. Inslee, I appreciate your joining me this evening. I appreciate your
analysis and your leadership. And if you have any concluding thoughts, I would turn to you at this point before yielding back.
Well said.