Joe Biden: “I am in opposition to the bill before us that opens up new areas in the Gulf of Mexico to oil and gas drilling. I don't…”

“I am in opposition to the bill before us that opens up new areas in the Gulf of Mexico to oil and gas drilling. I don't dispute that the oil and natural gas that may be harvested as a result of this legislation could be useful, and I would support drilling from some new sources--if the value of doing so is not outweighed by the risks to our environment and economies. But it is not a solution to our energy problems. Here we are, yet again, with a so-called ``energy'' plan that only offers one plan for our energy security crisis: drilling. That is not much of a plan. That is not going to free our foreign policy. That is not going to lower prices at the pump. We consume a quarter of the oil in the world, but we have less than 2 percent of the world's reserves--that 2 percent includes the areas under debate today. If we tapped all the reserves in Alaska, the Gulf of Mexico and off the Pacific and Atlantic coasts, we would increase output by 2 million barrels a day by 2020. Yet our consumption is expected to rise to 25 million and world consumption to 110 million, so the impact on price and energy security would be minimal. Drops in the bucket. We need a real energy policy, a real path toward energy security. For instance, we can make the biggest difference and have the most immediate impact by reducing oil consumption where we use it most: the transportation sector.…”