I suggest the absence of a quorum. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, so the Senate will have an idea what we are trying to do, the first amendment we are trying to offer…
I suggest the absence of a quorum.
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.
Mr. President, so the Senate will have an idea what we are trying to do, the first amendment we are trying to offer up is in the process of being completed in a bipartisan manner, the ethanol amendment. We don't know exactly when that will be ready. It looks as though they are working on the last clearances or clarification of words. I was told a while
ago it may be an hour, it may be less. That will give us a chance to speak. In Senator Bingaman's absence, we agreed that after our statements, Senator Nelson will speak.
Mr. President, I think the most important thing to start with here is that this bill before us cleared the Energy and Natural Resources Committee, after years of stalemate, by a rather incredible vote of 21 to 1. Some would think perhaps that doesn't mean a great deal. But to the Senator from New Mexico, as chairman of this committee, I think it is very important. I think it means that, for once, Republicans and Democrats have seen an American problem of real significance and have tried very, very hard to see if they could cooperate at every level, with every amendment, and give everybody a chance to argue, present, win, lose, and produce a bill.
I will start by saying that is one of the big differences between why we are here today and what we are here about. I think it means that eventually the American people and their great concern finally bubbles up, and I hope partisanship disappears and we try to get a bill. Partisanship might not be over because when you get to the floor, there is still a chance to be partisan, and that is all right. The thing is, we want very much--and I use ``we'' because I speak for my friend, Senator Bingaman--to get a bill. That means the Senate is going to have a lot of time but perhaps not as much as last time or the time before, when we had literally hundreds of amendments left when we finished debate. And only through good fortune were we able to go to conference, in a very unordinary way, and we lost on the floor for reasons that the Chair and others understand.
Having said that, let me say there is no question that this great country, with this rather fantastic economy, with its leadership role in terms of security, is in a position where we need a bill that enhances America's energy supply, maximizes conservation, and that produces clean energy. So what we are talking about is an American Clean Energy Act that will produce security of supply, affordability and, ultimately, national security and prosperity.
It sounds as though that is a rather auspicious hope for a bill, and I am not here saying everything about it is perfect, nor am I saying some could not find ways to criticize it and say that perhaps it could be done a better way. But remember, we are in the Senate, where Senators have to get a chance to work their will, where there is a myriad of ideas about how America should move through this very, very difficult time.
I want to say right up front that I wish we were here saying we could go back 25 years and make some big changes so we were not having such a serious problem with reference to crude oil and the requirement that we import so much. Of that importation, a huge amount, 75 percent, goes to transportation. Americans should know that means automobiles, that means SUVs, trucks, and everything that has to do with moving us around. We decided years ago that cheap oil, even if it came from overseas, should come to America and feed this desire for prosperity and mobility and transportation, which was one of our ways of providing our freedom. Now, 25 to 30 years later, we are in one gigantic bind, in that we cannot produce enough oil to meet this need.
As a matter of fact, today, as we stand here, the United States has diminished regularly its ability to produce the quantity of oil that it produces so that in the world we are no longer a major producer; we are No. 6. If you look out in the world, we are the sixth largest producer--and fading. There is nothing we can do about it, in terms of gigantic steps forward. We can, and this bill attempts to, enhance our ability to produce oil on American soil, where oil exists. We attempt to create a better format for permitting and drilling and acquiring American oil, and then, as an aside, there will be a major debate later--not on this bill--as to what we do, if anything, with the oil of America that is in Alaska, which we frequently call and discuss as ``ANWR''.
Nonetheless, in this bill, we have tried, with a degree of reasonableness, to say we are going to insist that we save 1 million barrels of oil a year, as far as what we use, by saying to the President: You use whatever means at your disposal to save a million barrels. And we give him that authority. Anybody who thinks we can do way more than that--I hope everybody understands that that is a discussion that doesn't have a great deal of merit, and it is beyond the realm of the responsible and reality.
Having said that, in addition to that 1 million barrels, this bill is laden with opportunities for additional savings because we are promoting hybrid cars, and I am sure the tax bill, which would be attached to this, will further enhance the use of hybrid cars, which is a great energy saver.
In addition, while some are critical, we will produce a very major ethanol bill before we are finished. The finishing touches are being put on it now. That particular bill will say to America, produce the maximum amount of ethanol, and ethanol will be used to mix with derivatives of crude oil and, yes, indeed, that will have a tremendous impact on how much oil we have to import from overseas from foreign countries. I will get to the specifics on that shortly.
At the same time, that particular aspect of the bill produces a lot of jobs. As a matter of fact, as I spoke of this bill at the inception and I spoke about prosperity, I spoke about security, I should have said to Americans it also will produce jobs because, with an abundance of energy, we are more competitive; with an abundance of alternative sources of energy, we get stronger in terms of our ability to compete, which means this is a jobs bill.
So it is a jobs bill, a security bill, a clean air bill, and a clean energy bill. Add all of that up, it is a tremendous step forward for the United States.
I will speak for a minute about one of the most important commodities that we use in the United States: it is that marvelous product called natural gas. We are very grateful and fortunate in America that we do produce a lot of our own natural gas, but I regret to say that we have begun to use it in such abundance because we started about 8, 9, or 10 years ago putting natural gas in all of our new electric powerplants.
Understand that powerplants in America and in the world produce electricity that goes into a grid that is distributed out. If anyone is wondering how important it is, turn on the lights, and that is electricity that came from some far away power company. In the United States, powerplants receive their basic energizing from a number of sources. Currently, 20.5 percent of America's energy comes from nuclear power. We have not built a new nuclear power plant in almost two decades. Energy from nuclear power is undergoing a renaissance. It is beginning to percolate up as something that many more people think is a real, bona fide source of electricity and energy for the future.
I am well aware that the occupant of the chair, the distinguished junior Senator from New Hampshire, is a staunch proponent of nuclear power. I recall vividly his father, who had been Governor of the granite State many years ago, discussing with this Senator way before people were talking about it that we ought to move ahead with nuclear power. That is one source.
This bill, in a number of ways--and when the tax bill is finished and gets before us, that will finish the requirements--will push us in the direction of saying let us move ahead with nuclear power, provided we follow all of the rules, regulations, and laws because we have concluded that it is as safe, if not safer, than any other source of energy.
In addition, this bill would be a producer of clean energy. Nuclear is one of them. Secondly, we are a country while on the one hand not so blessed because we use so much crude oil and do not have enough, we are a country that is laden with coal. Right now the largest source of electricity produced in America comes from coal.
In numerous ways, this bill is a boost and sends a real powerful signal that we want to invest in new technology to produce clean coal for clean powerplants. We even provide incentives for the production of new coal transformation plants where we will begin to produce clean energy and capture the carbon that is one of the negative aspects of burning coal today.
Harkening back to natural gas, this bill does another very important thing.
We must bring down over time, if we can, the price of natural gas. People wonder what we can do in other areas, but natural gas is a feedstock in America. It is fertilizer, it is jobs, it is agriculture, it is the feedstock for many other products in our country. I believe we are paying the highest price in the world today for natural gas.
In this bill, we provide for a better way to site and locate liquefied natural gas--commonly called LNG--ports in the United States. We say they cannot be delayed indefinitely. If they are safe, then the Federal Government ultimately can get involved and see that we do them. It is important that we do that.
I did not mention everything. There are so many other aspects of this bill, but I want to talk about conservation because there are some who do not think conservation is the kind of thing that is important in an energy bill. It is vitally important, and I compliment those who have pursued it with vigor, led by my good friend, Senator Bingaman, who has pursued conservation for a long time.
This bill has very major conservation aspects. The amount of conservation that will be forthcoming in this bill is astounding. From what we understand, this bill will give us an opportunity, with reference to the use of energy from powerplants, to have the equivalent, if I am correct, of 50 powerplants of 1,000 megawatts over time. Just think of that. That is rather major. We could go on and talk about many other aspects, but Senator Bingaman will talk about the bill from his vantage point.
I close by saying that renewables are important. This bill recognizes renewables in many aspects and ways. Clearly, we promote fuel cells. We fund it. We encourage its research. Clearly, it is an energy source of the future. It will be part of making us more independent and clearly help us even in our transportation problems with reference to fuel.
Likewise, there is a section of this bill that I believe is about as innovative as anything we have done, and it has to do with incentives for building new and innovative sources of energy. In this bill, we call that title incentives. What we have done in the bill is provided for a new way for the United States, through the Secretary of Energy, to make decisions about new technology applied to pilot projects that might be built in various kinds of new technological breakthrough activities. It will be a provision that will be known as the loan guarantee provision, but it is different in that whoever applies will pay the risk insurance costs, and then they will borrow on an 80/20 basis. That means the U.S. Treasury should come through this with no actual cost to the Government.
According to our budget provisions and the law that provides for loan guarantees, it will not cost the Treasury and will be a very big source of new and exciting applications for the United States of new innovation, which among all the things we have mentioned--the breakthroughs in coal gasification, the breakthroughs in many other areas of technology--are really going to be important in making America more secure, producing more jobs, producing a society that indeed continues to be prosperous. So this is a bill that has great efficiency and conservation built in.
On the electric front, I mentioned production of electricity, but I also want to remind everybody this bill also should provide for a framework where we will not have blackouts in the future. That is an easy one to remember. Even the young people here remember blackouts because they just occurred a while ago.
We have a reliability section which everybody in the business says is high time we have because everyone will have the same reliability standards, and we hope blackouts will become a thing of the past.
I mentioned ethanol. I note there is one of the strongest proponents of ethanol on the floor, and I say to the distinguished Senator, I hope we get a good ethanol bill. Thanks to his efforts and many others, we should get one that produces literally thousands of jobs, billions of gallons of gasoline, and millions of barrels of oil saved from overseas.
When we add that all together, the hybrid cars that will be produced--and I just heard the other day that if we continue to stimulate the purchase of hybrids, and if indeed they are produced as they have been, and if American manufacturers will get to where they are producing them so that it is not just Japanese hybrids, we should have in the not too distant future the equivalent of a million cars a year that would be hybrids. That will be a huge saver along with the other things that we are doing.
I want to add two things that are not in this bill that are very important to our future. Separate and apart, as everybody remembers, we produced a proposal that should bring natural gas down from Alaska into Chicago, a huge pipeline, one of America's major construction projects. I do not want to overstate the case because it is not in this bill, but what we are trying to say is everything put together, this is where we are going. When that is completed, there will be a huge new supply of natural gas coming into our country, along with what we are discussing in this bill regarding other fronts. I will not give the details of what the ethanol provisions will do for our country, but it is obvious that will be discussed many times over.
I can get it now. It will reduce crude oil imports by 2 billion barrels and reduce the outflow of dollars to foreign oil producers by $64 billion. It will create 234,000 new jobs. It will add $200 billion to the GDP between 2005 and 2012, and it will create $6 billion in new investment, much to go to States that are currently called rural States that truly need the economic development that will come with it.
Actually, because it is agricultural products and because of the add- on that will occur in the development of ethanol, U.S. household incomes could, indeed, go up substantially overall, as much as $43 billion.
This bill has provisions and ideas that came from every Senator. Senator Bingaman remembers on his side of the aisle four or five Senators have major provisions they got in this bill. Senator Bingaman and I negotiated out a number that were his ideas. I worked hard on the nuclear section. As I said, I think this bill, with the tax provisions, is going to cause a renaissance in nuclear power. In fact, I believe it is fair to say we will have a nuclear powerplant started in this country, ground turned, within 5 years--and I think that is the outside.
Three consortia applied for pre-permitting under our rather new law for the expeditious handling of nuclear power permits. I mean expeditious only in that they will not have to stop over so many times. It will be clearly reviewed and have to meet standards, but they will not stop six or eight times from the construction until the end.
And we do provide some assurance to those who will fund those powerplants that they will not get stuck midway through construction; that they will be able to complete the powerplants.
I hope I have not neglected important issues, but the most important is we have done our very best to get a bipartisan bill. We have done our very best to send the right kind of messages to the world that, if we get this, America is alive in terms of our energy security, our jobs for the future, our competitiveness and reduction in the costs of some of the major basic energy sources, and, yes, cleaner air, cleaner coal--cleaner electricity production. If you add it up, it is truly an American Clean Energy Act.
With that, I understand my fellow colleague from New Mexico would like to give his statement on the bill and I yield at this time.
Please.
The time got away. It is almost 12.
How long will my colleague take?
Unless there is something intervening, the Senator can speak right after that.
We all agreed that the next issue, the next item is going to be an amendment on ethanol. It is being gotten ready. We would take it up, but you understand when you do ethanol it is not one person, it is both sides of the aisle and 10 or 15 Senators. They are almost finished. That will be the next item.
If you are referring to a colloquy with respect to coastal offshore drilling, we are working on something with you and Senator Martinez, both sides, and I don't know when we will have that ready. It is being worked on right now. But this side does not have any desire to delay that. We have to bring Senator Landrieu and other Senators in on that-- Senator Vitter--and we will do that as soon as we can, I assure you.
Mr. President, will the Senator yield without losing his right to the floor?
Go ahead, Senator.
I thank the Senator. I was just wondering, we understand your genuine concern. You are going to have plenty of opportunity as this bill moves along to make sure that your State is protected. What I would like to do, since we are going to have to go out because of your caucus--we do not have ours today--I wonder if you might consider making this first statement of yours kind of abbreviated so Senator Dorgan could have a little opportunity before we break. Then we would take our break, and, hopefully, we would have ethanol ready. You would not lose anything, obviously. The floor is going to be open to you, and you can state what you wish to state beyond what you have spoken here today.
Mr. President, I wish to say to the Senate, the distinguished junior Senator from Florida, Mr. Martinez, has spoken with this chairman on numerous occasions about this issue. He continues to be as concerned as Senator Nelson about this issue. We are working with him--I am not sure how it is all going to turn out in terms of a colloquy, but we do not intend to do anything to harm Florida. We have already told everybody that. It is very hard to make broad-based commitments in advance, and it is not just up to me. There are other Senators, including Senator Bingaman. But we are doing our best.
I want everybody to understand that both Senators are working very hard at this.
Privilege of the Floor
Mr. President, I ask unanimous consent that privileges of the floor be granted to members of staff who will be listed hereinafter. They are members of the committee who will have to spend time, from time to time, on the floor. And I ask unanimous consent that their names be printed in the Record.
Mr. President, I yield to the distinguished Senator, Mr. Dorgan.
There is no objection, as long as it is understood I have the floor when we return.
The Senator from New Mexico would have the floor.
Yes.