On the recordJune 26, 2008
nobody likes these high prices, and I think most folks understand the law of supply and demand. Worldwide, this last year, we pumped 126,000 fewer barrels of oil and we used a million barrels more each day. We have said no to ANWR, we have said no to tar sands, we've said no to oil shale, we've said no to nuclear. Sierra Club, I'm told, has opposed solar in California. This Congress has not extended R&D for renewables. Yet, 85 percent of our offshore sites are off-limits. I would like to put a letter that I received a copy of from the American Association of Petroleum Geologists into the Record that was sent to the Speaker. They conclude that policies that increase exploration costs, decrease the available time to properly evaluate leases and restrict access to Federal lands in the OCS do not provide the American people with short-term relief from high prices and undermine the goal of increasing stable long-term surpluses. We can't waive a magic wand and say here it is. If you say 5 years, but you still require some 27 different environmentally-mandated permits that are required, with no shortening of the time that it takes to get those permits approved, you are not succeeding. In effect, what you are doing is telling the companies to go look someplace else. They are not going to look in America.
Source
govinfo.gov




