I am committed to enacting balanced and responsible energy legislation that is in the best interest of the 7th District. Inflated gasoline prices place a financial burden on working families. However, we cannot address our current energy problems with more regulation, higher taxes, and fewer choices. While America must move towards cleaner renewable fuels, the real key to lowering prices at the pump is decreasing our dangerous dependence on foreign oil.
The oil market landscape has drastically changed with the rapid economic expansion in Russia, India, and most notably, China. Currently, foreign national oil companies control almost 90 percent of global oil reserves and produce the bulk of the world’s supply. Many of the countries that direct these state-owned companies are unfriendly to the United States. These governments circumvent the traditional distribution process, undermining the open market and, thus, driving international prices up. It is imperative that our State Department work to ensure terms favorable to an open market for oil and gas.
Our energy supply should not be influenced by the whims of our enemies. Energy independence is a matter of economic and national security. Over the next 20-25 years, we need to manage our dependence on fossil fuels in a strategic way while we develop alternative energy measures that are sustainable, diverse, and environmentally compatible. America’s continued prosperity depends upon the availability of reliable, affordable energy sources.
Congressional Democrats continue to block proposals to safely expand American energy exploration and production in favor of new taxes on our domestic producers and proposals that offer no new sources of energy. I believe it is critical that we responsibly use our domestic resources to meet our nation’s growing energy needs as we move toward alternative, renewable energy sources in the future. By increasing production in America, we can keep good paying jobs here at home.
I continue to support responsible exploration on the Outer Continental Shelf (OCS), as well as the Arctic National Wildlife Reserve (ANWR). President Bush recently lifted the Executive ban on energy exploration on the OCS. Just days earlier I co-authored a letter with Representative Tim Murphy (PA-18) and 92 other House Republicans urging the President to lift the OCS ban. The text of the letter is available at http://www.boustany.house.gov/SupportingFiles/documents/OCS_Moratorium_-_Final.pdf.
Families in Southwest Louisiana are struggling, and the President took one small step toward increasing our energy supply and lowering prices at the pump by lifting this ban. Now Congress must remove the final barrier to accessing the vast amount of oil on the Outer Continental Shelf by lifting the congressional moratorium. House leadership must stop obstructing the repeal of the congressional ban so we can reclaim control of our own energy resources and bring down the price of gas.
In July my fellow House Republicans and I took to the steps of the US Capitol and unveiled the American Energy Act (H.R. 6566) to promote American energy production, improve conservation and efficiency and advance renewable fuel technologies. I remain disappointed that Speaker Pelosi and House Democrats chose to adjourn the House for a 5 week vacation in August while American’s struggle with rising gas prices. I opposed the motion to adjourn and joined my Republican colleagues on the House floor during the August break to encourage Speaker Pelosi to bring Congress back to finish its business.
Beyond increased production, ensuring the price we pay at the pump is the result of supply and demand, and not excessive speculation on Wall Street, must also be addressed. Experts have raised concerns that excessive speculation could be unnecessarily driving up the price of oil and gas. While speculation is a responsible business practice for many companies such as FedEx and Southwest Airlines, increased activity in this market by non-consumers raises many questions. It is important that Congress not overreact to perceived problems, but rather, proceed in a responsible manner.
The House Agriculture Committee took the first step in ensuring our energy markets are functioning properly. I supported a bill giving the Commodity Futures Trading Commission (CFTC) greater tools to bring about transparency and accountability in the commodity markets. It is important for companies to have the ability to hedge against future prices of oil by managing their risk in a responsible manner, while ensuring that excessive speculation is not needlessly driving up the price. I will continue to support legislation that protects consumers and responsible businesses during this period of uncertainty. Additionally, the 2008 Farm Bill also contains language to close the loophole used by energy companies like Enron to manipulate the market.
I have also introduced the Energy Security and Foreign Policy Integration Act (H.R. 3207). The U.S. Government has historically failed to adequately and systematically consider energy issues in the development of foreign and national security policy. I strongly believe that energy issues should be an integral part of the foreign and national security policymaking process. Our growing dependence on foreign energy supplies constrains our nation’s pursuit of a broad range of foreign policy and national security goals. My bill does three things: 1) requires the Secretary of Energy to be a member of the National Security Council; 2) establishes a new Directorate of Energy within the National Security Council; and 3) requires the President to conduct a Quadrennial Energy Security Report. I will continue to push to ensure H.R. 3207 is enacted this Congress.
Louisianians deserve a balanced energy plan that will not only reduce our dependence on foreign oil, but also bring more business to our state. I am committed to working with my colleagues during the 110th Congress to implement common-sense energy solutions to lower gas prices and reduce America’s reliance on foreign sources of energy.
I am always eager to hear from my constituents. If you would like to speak with my staff about energy legislation, please contact my Washington, D.C. office at 202-225-2031.
