Fiscal Responsibility Act Of 2023--Motion To Proceed
Mr. President, I rise to speak in favor of the MVP. They call it the Mountain Valley Pipeline; I call it the most valuable pipeline we have to offer energy to the people of America. It has been under tow for a long time. I brought some…
Mr. President, I rise to speak in favor of the MVP. They call it the Mountain Valley Pipeline; I call it the most valuable pipeline we have to offer energy to the people of America.
It has been under tow for a long time. I brought some illustrations of what we are going through because my good friend from Virginia, the Senator from Virginia who just spoke--and we respectfully disagree on this--this is something we have worked on for an awful long time.
First, I want to make sure everybody understands that you cannot get permission to move forward on a pipeline, transmission line, anything you want in this country, unless there is a market for it. You have to show that there is a person or a group or a market that this product-- whether it is electricity on transmission lines or gas in the pipelines or oil or whatever, there has to be a market. You can't go from here to there and try to build a market. So there has to be a need. There has to be a need. If there is going to be a need in the market, then it starts proceeding, and then it goes through the process.
This was started over 8 years ago, going through that process. I don't think there is another permit that has ever been more scrutinized--or a request for a permit--than this Mountain Valley Pipeline.
It is the Mountain Valley Pipeline. We will call it the MVP. FERC has approved the MVP three times--not one time, three times--basically, over 8 years of review. It started with the Obama administration, went through the Trump administration, and now into the Biden administration. And we are as desperate for the fuel today as we are.
Let's look at the people and basically where the need is. This pipeline is 42 inches. It takes the most oil shale. First of all, it goes into an area that basically is deprived of natural resources themselves. Let me tell you some of the areas we are going to be able to serve in a direct and indirect way. Our military bases in North Carolina and South Carolina are in desperate need.
There was another pipeline coming out of the same shale of gas called the Atlantic Coast Pipeline that went on for years. It went on for years and was finally scrubbed because the price got so exorbitant that there was no way to continue, and they could not get through the litigation that went on for years. After about $6 or $7 billion, Dominion Energy basically pulled the plug on it. They couldn't do it.
So when they tell you that everything is fine and they did all this, wherever there were problems, they are sent back. If someone doesn't like this or that, they send it back. They went through it three times. Now, when FERC goes through it, it is a pretty arduous process. They look into everything. And if the courts basically say look at this, then they do that, and they correct that and send it back, and they find something else.
Wouldn't you think that they would see it all the first time if they saw any problems whatsoever that needed corrected?
So, as I said, it has been thoroughly vetted for 8 years by the Obama and Trump and Biden administrations, and eight NEPA reviews. Anyone who has gone through any NEPA review knows how difficult that can be. Eight times NEPA has reviewed this. There are six environmental impact studies. The environmental impact studies can go from 1 to 3 years. Six times, it went back to them.
So when anyone thinks this has not been scrutinized and has not basically gone through every Agency that it was required to go through and had every review done that possibly could be done, they would be mistaken, if you see just the outline of things.
Three rounds of permitting were approved by FERC. They approved all of them. It still wasn't good enough. It still wasn't good enough. It went through the courts and back it came. It went through the courts and back it came. The Forest Service, the Bureau of Land Management, and Fish and Wildlife, they all went through it. Everybody had a good look at this thing.
Now we have a situation where if you looked at Winter Storm Elliott in December of 2022, the Carolinas have the highest natural gas prices in the country--$50 to $60 per million Btu--$50 to $60 dollars. Normally, in the Appalachian Basin, that is anywhere from $2.50 to $6 dollars to where it stays. But because they did not have the product and the demand was so high, the people are getting gouged.
You tell me of an average family or a hard-working family who can afford $50 or $60 per million Btu. It is 10 times the normal rate.
So is there a need? Absolutely, there is a need. Is there basically a need for pricing that is stabilized and helps people get through tough times and helps them take care of their family and home and also the job they work in? Absolutely. So you have that.
Duke Energy says the MVP will save 4.5 million customers $3 billion over 25 years. Duke Energy is a very large power company within North Carolina, and they are saying that we don't have that product. We need this product. They were counting on the Atlantic Coast Pipeline to get that product. That didn't happen. Now we are counting on MVP.
But guess who gets gouged? Everybody talks about big business and companies and this and that. But 4.5 million customers--that is who is going to pay the price.
When you talk about price, let's talk about this. This line, when they started on this pipeline, there was an approximate cost of $3.5 billion to build it. We are over $6.6 billion now. Who do you think is going to pay that price? It is going to be paid by the customers who need the product. They are paying $50 to $60 per million Btu, and they should be paying $4 to $6, in that range there, and I guarantee you the savings would be tremendously supportive to their families.
So as we have talked, we had a lot going on here, a lot of different conversations. There is a new Summit View Business Park in Franklin County in southwest Virginia. It is struggling to attract businesses to that park that would create opportunities and jobs for the hard-working people in southwest Virginia, just like all of West Virginia. They cannot attract or furnish the energy at the plant that the park needs to attract the different industries that would like to come. So for economic development, just having a job, taking care of your family, and living in beautiful southwest Virginia, they don't have that opportunity now.
In North Carolina, Cumberland County and Fayette have lost out on $1 billion of investment because the businesses cannot afford the high price of gas. And we have an abundance of it in
West Virginia and Pennsylvania and coming out of the eastern part of Ohio. We are willing to share it and put it in the market and keep the prices where they should be--affordable.
So the review process which has been incredibly thorough and rigorous with eight NEPA reviews, six environmental impact statements, two environmental assessments, three rounds of review by the same Federal Agencies--FERC, Fish and Wildlife, Forest Service, and BLM--and that is a mighty lift in itself. It has been before the court numerous times-- nine times, to be exact--nine times before the courts. When does it stop? When does it stop? The cost has ballooned, as I said, and doubled in price, and here we are.
Now, you would think that we are just trying to get this line started. It is going to be 303 miles. But guess what: 283 miles are already built. It is already laid in the ground.
Now, they said there have been violations because there is sedimentation going on, and they didn't go back and reseed. They weren't allowed to because of the court actions that prohibited them from getting back on the property. It is a catch-22. They could not reclaim what they wanted to reclaim because they were taken to court and stopped, and then they were brought to task again for not reclaiming it.
If we pass this piece of legislation, within 6 months this line will be in production. We only have 20 miles to go. That would put 2,500 people to work--2,500 people to work.
About $40 to $50 million annually will be coming to the States of West Virginia and some to Virginia, as it passes through. There is about $200 to $250 million that will go to individuals who own their gas rights that are being sold and put into the line. That is every year. That is tremendous support for the poorest parts of our country. In the poorest parts of our country, the people are finally able to sell what they own, their resources, and to help stabilize the prices or help all people in the States that are affected.
There is $1.2 billion in additional investment to complete the project. We have tried everything humanly possible. We really have. I just couldn't believe that we couldn't get this to work after what happened to the previous lines they were trying to build to bring product to the marketplace.
So there is all different people who are upset. I understand that. My good friend from Virginia, my Senate friend--we were co-Governors together and our families are very close. This doesn't affect our relationship, our friendship, and it doesn't affect, basically, us fighting for many of the same causes. But it brings a healthy discussion: Are we going to move forward in this country? Are we going to have permit reform? Are we going to be able to build the necessary transmission that it takes?
I am talking about powerlines. They are the same. If anything, it takes longer for a powerline, for pipelines. Everything is being stopped now. It is not that they are protesting the pipe itself. They are protesting basically the product in the pipe, the gas.
Now, there is a transition going on in energy throughout the country--a transition throughout the world, to a certain extent--but we still cannot run our country without the gas, without the oil, without the coal that we need for dispatch. That means 24/7. Just gas and coal itself is over 60 percent of the energy we use.
In this system here, right where we are in this beautiful Capitol, this is a PJM system, which they call it, and it is basically what this is all about. It is basically ``all of the above.'' It is wind, solar. It is coal. It is gas. It is everything that gives the reliability that, when you turn that switch on, you are going to have lights. When you turn the heat on, you are going to be warm. When you turn this air conditioner on, you are going to have comfort. When you cook your food, you are going to be able to do it. That is what we are able to do in America.
And as that transitions, there will be a transition into new technology that will replace an awful lot of what we are talking about. But we are a long way away from that, and to deprive people who need this for their livelihood, to deprive them and make them pay 10 times more for a product that is abundant--it would be different if the Good Lord didn't give us the resources. But it is a shame and a sin that we don't use the resources we have to help all humankind. That is what we are talking about.
And if you look at the process we have just gone through and where we are right now and what we embark on this evening, we will probably be here most of the night, I would say, going through the amendments. Everybody has to have their say. I agree. But we have come to the reality and we have been here long enough understanding that this piece of legislation that we have before us has to pass. The Mountain Valley Pipeline is in that piece of legislation. It still has some review processes. We are not asking for that. We are asking, basically, that the things that have been done multiple times proceed on--that it proceeds on. That is all we are asking for.
But with that, when you think about 3 or 4 months ago, we started talking seriously about the debt ceiling. We have got to address the debt ceiling. That is our responsibility to address it and make sure the full faith and credit of this country and the value of us having the reserve currency of the world is stable--that it is stable.
If we pass an amendment or any amendment--this amendment my dear friend is going to introduce or any amendment--we will default. It is as simple as that. We will default.
Now, it would be different if this had not gone through 8 years of scrutiny, in court nine times, been looked at any way and every way, shape, and form. That would be a different thing--if no one has ever seen anything, if we are trying to slide something through. That is not the case here. No one can accuse that of happening.
So we are in the process right now of trying to move forward in this country to get the energy that we need, that we have. It is unbelievable to me when the people were thinking sometime: Well, maybe we will have Iran produce more oil. Maybe we will have Venezuela produce more.
We have it in our backyard, and we can't produce it ourselves? We want someone else to do the work that we won't do for ourselves? That is ridiculous.
You can't lead that way. You can't have the rest of the world looking at you as the superpower of the world that won't do for yourself because you don't like something. We found ways through innovation, not elimination, to do it better. And we can help the rest of the world, and we can help the global climate because of this if we work together.
But I can assure you that what we have today before us is a product that is going to help an awful lot of people--4.5 million just in one State that depends on this product to give them some relief and are paying the highest prices. They are already at the highest prices in the country except for the Northeast.
So I would say there is so much at risk right now. If we move forward and we pass this amendment that would go on this bill, that would have to go back to the House with us not defaulting. We cannot take that risk.
I would ask my colleagues--all of my colleagues on both sides of the aisle--instead of what we are doing, consider basically the value that this product brings. Consider also the reviews this product has gone through, and I think you will find it more than adequate and more than comforting that, basically, we have a product that is going to do an awful lot of good for America, an awful lot of good for humankind in the States. And, also, this will backfill and also help us toward where we are sending LNG to our allies around the world. There are so many benefits from 2 billion cubic feet a day--2 billion. Two billion cubic feet a day will go through this line, helping America to be energy independent.
So I encourage all of my colleagues to vote respectfully against the amendment that will be offered to strip this out of the bill.
I yield the floor.