April 21, 2005

            Hall, chairman of the Energy and Air Quality Subcommittee, presided over hearings on the Energy Policy Act earlier this year, helped move the bill through an Energy and Commerce markup last week, where it was approved by a bipartisan vote of 39 to 16, and helped manage the bill during consideration on the House Floor this week.

            “There is no better time to give the President a bill to sign into law,” Hall said.  “The Energy Policy Act is a very important first step towards bringing down the price of gasoline by allowing us to produce more domestic oil and by fostering greater conservation and energy.”

            “Gas prices are high now, in part, because we’ve had no comprehensive national energy policy for the past few decades.  We can’t afford to watch another ten years go by without acting,” he stressed.

            “As the demand for crude oil grows, so does the influence of those countries that have the most.  We can’t let our country get into a situation where we are absolutely dependent on foreign sources of oil,” Hall added.  America currently depends on foreign sources for 62 percent of its supply.  By 2010 that percentage is expected to grow to 75 percent.

            The Energy Policy Act of 2005 establishes a comprehensive, long-range national energy policy that includes incentives for traditional energy sources, newer technologies, and conservation. 

The bill authorizes drilling on approximately 1.5 million acres of the 19-million acre Arctic National Wildlife Refuge (ANWR) in Alaska.  Production would occur on just 2000 acres, or 0.01 percent.  It is estimated that ANWR contains enough oil to replace Saudi Arabian imports for nearly 30 years.  Oil and gas from ANWR would be sold only in the domestic market.

            The energy bill includes Hall’s provision for a public-private partnership to develop technologies to drill in ultra-deepwater of the Gulf of Mexico and unconventional onshore areas.  The Energy Information Administration estimates this program could increase production of natural gas by 3.8 trillion cubic feet and oil by 850 million barrels.  Federal royalties would more than pay for the program.

            The energy bill improves electricity transmission capacity and reliability, promotes hydrogen fuel cell cars, clean coal technology and renewable energies.  It encourages more nuclear and hydropower production.  It also establishes efficiency requirements for federal buildings as well as efficiency standards and labeling for a number of commercial and household products.  Another provision aimed at conserving energy would extend daylight-saving time by two months.

            “This is a good bill – one that has been worked on and debated for five years.  Its purpose is to promote conservation, reduce our dependence on foreign oil, improve our economy and create new jobs,” Hall said.   “We do not want to move from energy crisis to energy crisis.”