Senator Jon Tester's Energy Plan

For energy security, affordability and independence

 
 
Drill More:
You hear a lot of talk about the need to drill for more oil in America right now.  I believe we ought to drill for more oil in places where it makes sense, like the Bakken Formation in eastern Montana.  The Bakken field holds an estimated 4 billion barrels of oil.

I also wonder why the oil companies aren't drilling on the 68 million acres of land already leased to them for drilling.  68 million acres is a big chunk of land -- almost two-thirds the size of Montana.  There are also 2.6 million acres open for drilling in the National Petroleum Reserve in Alaska.  But I don't support drilling in Montana's prized places, like the Rocky Mountain Front.  I will fight to protect our outdoor heritage.

I agree there are opportunities for drilling offshore.  But as with everything, drilling ought to be done responsibly.  And you'd be hard-pressed to find a rig right now because we’re already drilling like crazy.  The pundits we hear every day on talk radio would have us believe that drilling more now will immediately lower gas prices. Unfortunately, they are not shooting straight with folks.  This issue requires long-term solutions.

We need long-term solutions because our country uses 25 percent of the world’s oil reserves, yet we only have three percent of those reserves.
 
Crack Down:
I support cracking down on speculators manipulating the price of oil.  Too many wheelers and dealers on Wall Street are making too much money off the backs of hardworking Americans who are paying too much for gas.

These speculators buy and sell oil they never intend to use in order to make a quick buck.  This creates an artificial increase in demand, which drives up the price of your gasoline.

I have been working to pass legislation cracking down on speculators.  Unfortunately, some folks in the Senate stood in the way of this important legislation.  I hope we can work together across party lines to pass something soon because closing loopholes and enforcing fair rules will lower the price of gas -- immediately.

I also believe we ought to take a serious look at the amount of oil drilled in America that oil companies send to other countries.  According to the U.S. Department of Energy, oil companies export 1.4 million barrels of American petroleum products every day.  This just doesn’t make sense to me.
 
Invest Now:
While drilling now is a common sense plan for the short term, we need to invest in alternative energy and conservation for the future.  Drilling for more oil is a bridge, but without a plan for the future, it's a bridge to nowhere.

Montana has enormous potential when it comes to alternative energy.  It will bring to our state good jobs, more opportunities and it will make Montana a key player in the future of energy development.

Most folks already know Montana is a moneymaker when it comes to harnessing energy from the wind.  We also have tremendous opportunities in solar power, geothermal power and biofuels.  I added a provision to the recent Farm Bill to provide federal crop insurance to farmers who grow camelina.  Camelina is a plant that grows well in Montana and doesn't compete with the food supply.  And oil from its seeds can be converted into biodiesel.

And of course, there's clean coal.  You've probably heard Governor Schweitzer call Montana the "Saudi Arabia of Coal."  We've got plenty of it.  And it will be part of our future for our kids and grandkids.  The first step is moving forward with carbon capture technology where we can pump the CO2 into existing oil fields for more production.  You clean up the air and get more oil -- keeping this valuable resource a part of Montana's economy for generations to come.
 
Moving Forward:
We need to take effective action on this nation's energy crisis right way.  Specifically, we need to drill more in places where it makes sense like the Bakken Field, crack down on speculators driving up the price of oil and invest now in alternative energy and conservation for the long haul.

Montana is at the forefront of the effort to develop diverse sources of energy, creating good jobs and securing America's energy future.  As Montana's only member of the Energy Committee, I will keep working to pass these common sense solutions.  I hope you will keep in touch.

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