Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in strong support of the European Energy Security and Diversification Act, which the Foreign Affairs Committee adopted unanimously earlier this month. This bill,…
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise in strong support of the European Energy Security and Diversification Act, which the Foreign Affairs Committee adopted unanimously earlier this month.
This bill, sponsored by Mr. Keating and Mr. Kinzinger, for whom we are deeply thankful, will help European and Eurasian countries reduce their reliance on Russian energy by providing diplomatic, political, technical, and financial support to projects that diversify energy sources and supply routes, enhance energy market integration across the region, and increase competition within the energy markets.
Europe imports nearly 40 percent of its natural gas from Russia. Some EU countries source as much as 100 percent of their gas from Moscow, which has weaponized its energy dominance in the region to coerce, intimidate, and influence the political decisions of countries that depend on it for their energy.
In 2006, 2009, and 2014, Vladimir Putin cut off gas to Ukraine, a country he has tried to dismember through his illegal annexation of Crimea and his continued aggression in the East.
Putin is now trying to build a massive new pipeline to Germany, the Nord Stream 2. This pipeline will increase Russian influence over Berlin, a key NATO ally and the largest economy in the EU, and also reduce Russia's reliance on Ukraine as a vital pipeline transit route to other European markets. This will deprive Ukraine of its critical transit fees, the proceeds of which are roughly equal to what it spends on its military.
It is not hard to see that this is a strategic play by Putin to increase pressure on Ukraine, where he continues to wage a war, and also get closer to Germany and dominate their energy.
This bill isn't just about helping Europe. This bill advances U.S. foreign policy and economic interests by strengthening our alliances with countries in the region and promoting U.S. energy as an appropriate alternative to the bondage of Russia.
The shale revolution and the repeal of the 1970s-era ban on crude oil sales in 2015 have unlocked America's abundant oil and natural gas reserves. These have enabled us to become the world's largest producer of oil and gas--some 13 million barrels a day now--giving our partners and allies a reliable alternative to unstable sources of energy.
We also lead the world in cutting-edge clean energy technologies, one of which, carbon sequester, is very important for the environment as well. Others are like nuclear and renewables, which this bill promotes.
Mr. Speaker, I urge my colleagues to support this bill, and I reserve the balance of my time.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I would once again like to thank the authors of this important bill, Mr. Kinzinger and Mr. Keating, as well as Chairman Sires for his support, and I am glad to know that Senator Murphy is on the case as well.
One more time, I would just like to say, if I might, what a terrible idea the Nord Stream 2 pipeline is, and I appreciate the strong comments that Congressman Keating just made. We should be opposing that, and we should be supporting the Trans-Caucasus pipeline to get more oil into Eastern Europe, away from Russia, and out of the bondage of their control of the pipelines.
So, I would like to thank the authors one more time and encourage all our colleagues to support this important bill, and I yield back the balance of my time.