Providing For Consideration Of H.R. 6515, Drill Responsibly In Leased Lands Act Of 2008
I thank the gentleman from Vermont for yielding. And, you know, we have a wonderful situation in here. We have a very interesting and productive dialogue, I believe, about something we all want to do, and that's to solve our energy crisis…
I thank the gentleman from Vermont for yielding.
And, you know, we have a wonderful situation in here. We have a very interesting and productive dialogue, I believe, about something we all want to do, and that's to solve our energy crisis to take the pressure off the American consumers whose lives are being terribly affected, adversely affected, by these high gas prices and the economy as well.
I call back to the words of a very smart person who once said the significant problems that we have today cannot be solved by the same level of thinking that created them. And unfortunately, this idea that we are going to drill our way out of the problem, both the short term and the long term, is the same level of thinking that got us into this problem. The man who said that was Albert Einstein. He was a pretty smart guy.
What we are proposing, and you have heard many instances of it and suggestions of it today, is that we have the ability, we have the resources right now to have an impact, a downward impact on prices. All we have to do is free our own oil, free America's oil. It's in the Strategic Petroleum Reserve.
As my colleague from Oregon just pointed out, we have been able to reduce the price three separate times over the last 17 years by releasing that oil. We can do it again and we should do it again. But more importantly than that is the entire attitude we take toward what's down the road, no pun intend.
My colleague from Tennessee on the other side of the aisle just mentioned a few minutes ago, he asked where are the electric cars, where are these hybrid cars? Well, actually, they're very close on the horizon. We met with Ford executives just a few weeks ago in my hometown of Louisville, Kentucky. They are on the verge of some significant breakthroughs. They have a plug-in hybrid that uses hydrogen power, as well as electricity. They're working on a battery car. They have several versions of alternative power sources they're working on.
General Motors has promised to have a battery-powered car on the road in 2010. We know in California there's a new manufacturer that's developed a battery-powered car.
These are the technologies that will be our future. We need to be investing in them, because as President Bush said the other day, what we are trying to do with this long-term approach is change the psychology of the market, change the psychology of the speculators, so that if they see down the
road that there's not going to be that much need for oil, the price will come down. I agree with him totally.
But wouldn't the effect be that much more dramatic if the speculators said not only is there going to be a reduced demand for oil in 2020 or 2030, there's going to be virtually no demand for oil in 2020 or 2030? That would really scare the speculators out of this market and drop the price. That's where we need to be investing our attention, our resources.
We can take tax breaks way from the oil companies--we have tried to do it a number of times already--and invest it in these technologies because they're not that far away. They are actually closer than the policies that will bring us relief at the gas pump maybe in 2030.