Roy Blunt: “I thank the chairman and Mr. Abercrombie for their work on this bill, which will produce a bipartisan vote today. I join…”

“I thank the chairman and Mr. Abercrombie for their work on this bill, which will produce a bipartisan vote today. I join my friend, Mr. Rahall, in his interest and support in the continued expansion of the use of coal and ethanol. I just do not think this bill prevents that from happening. This bill allows us, during a transitional generation, to help meet the needs of that transition. This bill allows us to look at domestic resources, at resources close to our shore that replace those things we are now importing. The U.S. Minerals Management Service estimates that in these deep sea areas there are 420 trillion cubic feet of natural gas, almost 20 times the annual U.S. consumption of natural gas, 86 billion barrels of oil. Twenty years of imported oil would be 86 billion barrels of oil, or almost 20 years of imported oil. This bill is balanced, a common-sense approach that gives the coastal States unprecedented power to prevent production within 100 miles of their coastline, while enabling the United States to produce energy in the deep waters beyond. This bill is at no cost to the Federal Government. The scoring in the bill that the sponsors have worked on comes back at no cost in 1 year, no cost in 2 years, no cost in 10 years. In fact, the Federal Government brings in additional revenues under this formula, even though it is beginning to share new revenues with the States. The U.S. is facing high energy prices. The U.S.…”