Drill Responsibly In Leased Lands Act Of 2008
I thank Chairman Rahall for his excellent leadership in crafting this legislation, the DRILL Act, which I strongly support. The oil and gas companies, awash in profits, would have us believe they have nowhere to drill. That is just plain…
I thank Chairman Rahall for his excellent leadership in crafting this legislation, the DRILL Act, which I strongly support.
The oil and gas companies, awash in profits, would have us believe they have nowhere to drill. That is just plain wrong.
According to the Bush administration, 80 percent of our oil and gas resources are available for drilling. The industry is sitting on 68 million acres of public lands where it could be drilling, but isn't. And with this bill today we are speeding up the effort to drill in the Alaska National Petroleum Reserve.
We don't need to open up more areas for drilling when industry is dragging its feet on producing where it already could. This recent push by President Bush to open up the rest of our coast to offshore drilling is a political stunt. It is not about lowering gas prices today or even in the near future. It is just a cynical attempt to change the subject from this administration's abject failure on energy.
The great oilmen rode into the White House 7\1/2\ years ago boasting about their new energy policy. Their great plan, now 95 percent implemented, has now resulted in $4 a gallon in gas, $500 billion in oil company profits, and an economy in crisis.
Those of us who opposed the Bush-Cheney energy plan did so because we knew this was the likely result.
Mr. Speaker, Democrats have a better idea, one that meets today's crisis and transitions us to a new energy future. We believe the President should release a small amount of oil from the Strategic Petroleum Reserve. We have done it before, and it works. It would likely bring prices down more in 10 days than the Bush-McCain offshore drilling plan would in 10 years.
In addition, oil companies should drill in the vast stretches of this country where they are now permitted, and the Bush administration should open up drilling in the Alaskan National Petroleum Reserve, build the pipelines and sell that oil and gas to Americans.
Finally, we must seriously ramp up our transition to alternative and renewable energy sources. If, in 10 years, oil and gas are still the focus of our energy debates, we surely will have failed. That would mean following the path that George W. Bush and Dick Cheney have charted, and we know where that leads us.
We need to change direction. I urge my colleagues to support this bill.