America Funding Offshore Drilling In Brazil
Mr. Speaker, just one short year ago, the ban was lifted for drilling for oil on the Outer Continental Shelf. We call that the OCS. And that was a good thing. We should be one year closer to all those high-paying jobs. We should be one…
Mr. Speaker, just one short year ago, the ban was lifted for drilling for oil on the Outer Continental Shelf. We call that the OCS. And that was a good thing. We should be one year closer to all those high-paying jobs. We should be one year closer to that shot in the arm for the American economy. We should be one year closer to American energy independence. But we're not.
Not by a long shot, because, you see, Mr. Speaker, the government still stonewalls offshore drilling. And that's unfortunate for America. Between the OCS and oil shale resources, America could replace all of the oil Saudi Arabia sends us for the next 20 years. And that's a lot of oil.
During that time, we could explore and develop other alternative energies to power our economy in the future. Also, by providing for our own energy with natural gas, solar, oil and nuclear, all of those issues are national security issues, so we won't depend on foreign countries for our energy in the future.
Drilling off of our shore means jobs for Americans right now, real jobs, high-paying jobs, the kind of jobs that support whole families and pay to get kids into college. And it's not jobs on just oil platforms in the gulf. Think about all the other support industries, transportation, food, equipment, parts, insurers, construction and so. These real, high-dollar jobs would give a boost to our economy. These jobs are vital to America's families and to our economy, and it would keep American money in America. There's a real solution right in front of us for job and energy development.
But the government continues to move in the opposite direction. The cap-and-trade national energy tax, now called the climate change bill, will destroy the U.S. energy industry. Millions of jobs that go along with it will also be lost.
It is a national tax on energy consumption. Plus, it won't really help the climate. Instead of taxing energy, we should find more energy and encourage American energy development.
But we cannot drill off of our shores because I guess it will upset the blood pressure of the environmental elites. So, no new drilling.
However, Mr. Speaker, I do have breaking news. The administration does support offshore drilling. According to the Wall Street Journal, the government is loaning over $2 billion in taxpayer money to a Brazilian company called Petrobras. Now, where did the United States, first of all, get that $2 billion to loan to a foreign company? I thought we were broke. How come taxpayer money is going to a Brazilian oil company anyway? Why isn't that money staying here in America?
This Brazilian oil company is drilling off the shore of, not the United States, but Brazil. And are we getting that oil? Well, no, because China has a contract to purchase the hundreds of millions of barrels of oil those Brazilian oil fields will produce with taxpayer money. Isn't that lovely?
Let me explain it this way. Here is a chart. Right here this represents the United States. Of course we have these signs, no offshore drilling off the United States coast. We can't do that. But we are sending $2 billion of American money down to a Brazilian oil company so they can, of course, drill off their shores. And is that money or oil coming back to us? I don't think so. That bag of money is going to China.
Now, this seems a bit strange to me. Why are American taxpayers footing the bill in Brazil without getting the oil or getting the money? Why aren't we expanding our own offshore drilling instead of sending American money to Brazil? Does anybody have the answer to that question? It seems like we should drill off our own coast, keep American money in America and take care of our own energy needs. We have millions of jobs just sitting there waiting to be created off our shores. Drilling on the Outer Continental Shelf and extracting oil shale would provide the much-needed boost to the American economy. And we should stop funding oil-producing countries that support terrorism and the Middle East.
So what are we waiting for? If we would have started a year ago when the ban was lifted, our economy would be better than it is today. We would have had more jobs, jobs, jobs. It is way past the time for us to get started taking care of America. Don't drill in Brazil with American money. Don't take care of China. Drill American and take care of America.
And that's just the way it is.