Wexler: Bush Peddles Snake Oil Solution to Energy Crisis
President's Decision to Lift Ban on Offshore Drilling Will Not Deliver Lower Gas Prices for Consumers

(Washington, DC) Today, Congressman Robert Wexler (D-FL) released the following statement in reaction to President Bush’s decision to lift the executive ban on offshore oil drilling:

“Offshore drilling is nothing more than a snake oil solution peddled by President Bush and Senator McCain for political gain. If the President was truly interested in lowering prices for Americans, he would support efforts in Congress to force oil companies to use the 68 million acres of land and water already available to them and immediately divert more oil from our nation’s Strategic Petroleum Reserve.

“The fact that the President would rather peddle offshore drilling as a solution to the global oil crisis -- when most experts admit that it will take 10 years for actual production, and by then will only lower gas prices one and ½ cents since world demand will also have increased two-fold -- tells me that he would rather play politics this election cycle than focus on solving the energy crisis. Even Senator John McCain, who recently declared support for offshore drilling, admitted it would only have a ‘psychological effect’ and not actually deliver savings to consumers.
 
“The truth is, America only contains about 3% of the world’s oil, and we will remain dependent on nations like Saudi Arabia unless we turn the page by improving energy efficiency and investing in renewable energies like solar, clean coal, nuclear power, biofuels, wind, and other viable alternatives.  This is a 21st century challenge that demands bold visionary action. We must bring together leading scientists and businesses, much like we did with the Manhattan project during World War II, to create lasting solutions. The President should realize it is time to stop playing politics with America’s financial future and put some real support behind affordable, renewable energy technologies and ways to lower gas prices for consumers today.”

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Congressman Wexler is Chairman of the Europe Subcommittee and a senior member of the House Committee on Foreign Affairs and the House Judiciary Committee; and he also sits on the Financial Services Committee.

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